Vodafone Idea stock rises 61% after over ₹23000cr AGR cut
Business
Vodafone Idea's stock has jumped 61% since the beginning of April, reaching a new yearly high.
The big boost came after the government cut the company's AGR dues by over ₹23,000 crore and gave them five more years to pay up, taking a lot of pressure off VIL's finances.
Birla invests ₹4730cr in Vodafone Idea
Aditya Birla Group stepped in with a ₹4,730 crore investment, raising its stake and giving VIL some much-needed stability.
Even though VIL lost subscribers (dropping from 208 million to 169 million), it managed to grow its average revenue per user from ₹135 to ₹190 thanks to higher tariffs.
The company still has work ahead, like winning back users and staying competitive, but these moves have definitely put it back in the game.