India's Vodafone Idea extends fall as top court dismisses plea to waive telecom dues

Vodafone Idea

19/05/2025 09:05

Updates

** India's Vodafone Idea VODA.NS drops 8.2% to 6.80 rupees; on course to snap three-session gaining streak

** India's Supreme Court dismisses VODA's plea seeking court's help for government rejecting to waive its telecom dues

        ** VODA dropped 5% in early trade after it asked Supreme Court to intervene "in public interest" after government rejected request to waive over $5 bln dues

** CEO Akshaya Moondra says, "no support will lead to a point of no return" and Vodafone "will not be able to operate beyond FY26"

** Analysts on average rate VODA "hold"; median PT 7.85 rupees, as per LSEG data

** YTD, stock down ~14% vs ~15% gain in rival Bharti Airtel BRTI.NS

 (Reporting by Kashish Tandon and Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))