Vodafone Idea shares tumble nearly 14% post SC verdict on AGR dues

Shares of Vodafone Idea settled nearly 14 per cent lower on Tuesday after the Supreme Court allowed the telecom companies to stagger their payments of the adjusted gross revenue (AGR) dues over the next 10 years.

The Vodafone Idea stock declined 13.73 per cent to settle at Rs 8.80 apiece on the National Stock Exchange (NSE). The stock had opened on a positive note and hit an intraday high of Rs 10.95 during the early trade on Tuesday before the SC announced its verdict on the AGR case. Soon after the verdict was announced, the stock erased all its gains and tanked 25 per cent to hit a lower circuit at Rs 7.65. On the BSE, the stock slipped 12.76 per cent to end at Rs 8.89. It had hit an intraday high of Rs 10.95 and a low of Rs 7.69.