India's Vodafone Idea slips on reports of government ruling out relief

Vodafone Idea

26/08/2025 05:36

** Vodafone Idea VODA.NS slips 9.5% to 6.68 rupees; top loser on Nifty midcap index

** Government not considering additional relief for co on pending Adjusted Gross Revenue (AGR) dues, PTI reports citing Minister of State for Communications Chandra Sekhar Pemmasani

** Government converted co's outstanding spectrum auction dues into equity in April

** Co, government didn't immediately respond to Reuters' request for comment

** Vodafone Idea has 840 bln rupees ($9.6 bln) in pending dues

** Stock gained ~15% in last two sessions on reports of government cutting regulatory dues for telco

** VODA rated "hold" on avg; median PT at 7 rupees, per data compiled by LSEG

** YTD, stock falls ~16%

($1 = 87.5060 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))