Airtel, Voda Idea shrs positive ahead of AGR review plea in SC

Kolkata: Shares of Bharti Airtel and Vodafone Idea went up by 0.48% to Rs 470 and 3.67% to Rs 6.22 on the BSE on Thursday. The uptick in the shares were on the back of hopes of a relief from the Supreme Court against an earlier verdict on adjusted gross revenue (AGR).

India’s top court has listed the limited review petitions by telecom companies against the AGR verdict, which widened the definition of AGR to include non-core revenue, leaving telcos and even non-telcos facing hefty statutory dues of more than Rs4.45 lakh

The review petitions will be heard ‘in chamber’ by the same three-judge bench led by Justice Arun Mishra, which had delivered the October 24 order that backed the Department of Telecommunications (DoT). The other two members on the bench are Justices AA Nazeer and MR Shah.