Vodafone Idea shares weak, Airtel in the green after SC AGR hearing

New Delhi: Shares of Vodafone Idea fell in early trade Tuesday while the Bharti Airtel stock was in the green, a day after the Supreme Court indicated it may consider a longer time frame for repayment of adjusted gross revenue (AGR) dues, which though could be lesser than 20 years that the government has backed.

In early trade on Tuesday, Vodafone Idea was trading 2.9% lower at Rs 8.78 while Airtel was up 0.3% at Rs577.70 on the BSE.

The Supreme Court on Monday confirmed the government assessment of adjusted gross revenue (AGR) dues that telecom companies such as Bharti Airtel and Vodafone Idea need to pay and reserved its order on how much time they’ll get to do so. The two companies offered to pay the money in 15 years while the government stood by its proposal to give them 20 years.