Vodafone up 5%, Airtel 1% after telcos seek more time from SC for AGR dues

New Delhi: Shares of Vodafone Idea Ltd on Monday’s session rose nearly 5% and Bharti Airtel Ltd a little over 1% after the telecom companies moved the Supreme Court seeking more time to pay adjusted gross revenue (AGR).

Vodafone Idea, a joint venture between Britain’s Vodafone and billionaire Kumar Mangalam Birla-backed Idea Cellular, has the highest AGR dues amounting to ₹50,000 crore, while the Sunil Mittal-led telco has to pay ₹35,586 crore to the department of telecommunications (DoT).

Following unfavourable AGR verdict, shares of Vodafone Idea tanked as much as 39% on Friday. Shrugging off concerns, Bharti Airtel on the other hand hit a 52-week high.