Vodafone Idea jumps 15% as telcos seek modification in AGR ruling

NEW DELHI: Shares of Vodafone Idea jumped 15 per cent in Tuesday’s trade after the telecom maker approached the Supreme Court in a bid to delay payments that are due Thursday. The operator wants to negotiate conditions and schedules for payment of statutory dues with the Department of Telecommunications (DoT), according to their petitions.

It told the court that if no relief is forthcoming, it will have to shut.

The stock rose 15.02 per cent to hit a high of Rs 5.59 on BSE.

“The company does not have any other resource available for the purpose of this payment,” Vodafone Idea said in its plea, which ET has seen. “If a suitable and appropriate arrangement is not made available, it will lead to immediate closure of one of the oldest and largest telecom companies in India.”

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