While the apex court's move is sentimentally negative, analysts believe a clear verdict removes a major overhang from the stock and provides visibility for the road ahead for the cash-strained telco.
“Despite its large debt burden (but manageable with government support), Vodafone Idea will be able to steadily repair and rebuild its business and partake in the robust outlook for the Indian telecom industry in the coming years,” said Hemang Khanna, vice president - research analyst, Nomura.
On Thursday, the Supreme Court rejected curative petitions filed by telcos, seeking a review of its 2019 judgment on AGR, which allowed the Department of Telecommunications (DoT) to seek all non-telecom revenue dues as part of the overall AGR payment.
This story is from the September 21, 2024 edition of Business Standard.
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This story is from the September 21, 2024 edition of Business Standard.
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