Latest News
-
107% Returns: Tata's NBFC Doubles Investors Money, Rs 53,440 Profits On Rs 50K; Key Parameters To Buy/Sell -
Rs 7/Share Dividend: May 3 Fixed As Record Date; Buy The Large Cap Stock To Be Eligible? -
EMS Stocks Buzz: 4 ELECTRONIC Stocks From Rs 400-2500 To Buy For 17-35% Potential Upside; Who Are They? -
10 Bonus Shares, 1:2 & 1:5 Splits; Smallcap Steel Stock Below Rs 15, Falls 10% In 5 Days; Plans FPO Ahead -
SBI, BoB, Canara: 5 PSU Bank Stocks To Buy, Motilal Top Picks; 1 To Split In 5 Shares For First Time Soon -
Highest Dividend In 2023 In History: Multibagger Refineries PSU To Mull Dividend On April 24 -
7:1 Bonus, 1:10 Split: At Rs 3.5, NBFC Penny Stock Hits Back-To-Back Lower Circuits; Big Announcement Soon -
Meta's Board Requests Public Views on AI Images of Celebrities -
Microsoft Pledges $1.5 Billion in UAE's AI Firm G42 to Boost Global Digital Infrastructure -
Yellen Cautions on Economic Fallout from Iran-Israel Tensions, Eyes More Sanctions
KM Birla Says Vodafone Idea To Shutdown Without Govt Relief On AGR Dues; Shares Fall
On Friday, chairman of Vodafone Idea Limited Kumar Mangalam Birla said that the company is likely to opt for insolvency if the government does not provide relief on the AGR (adjusted gross revenue) dues issue that has crippled its finances. Shares of Vodafone Idea fell nearly 9 percent in trade to Rs 6.65 a piece on NSE.
Speaking at the Hindustan Times Leadership Summit, according to a PTI report, Birla indicated that his group will not be investing any money in the company in the absence of relief from the government as "there is no sense that good money should follow bad money."
On 24 October, the Supreme Court ruled in favour of department of telecommunications (DoT) in which the apex court rejected the definition of adjusted gross revenue (AGR) as proposed by the mobile network operators that excluded revenue from non-core telecom operations like rent, dividend and interest income.
On 14 November, Vodafone Idea reported its biggest-ever quarterly loss of Rs 50,921 crore on account of provisions towards dues on AGR. The one-year-old joint venture between Aditya Birla Group and Vodafone Plc owes Rs 40,000 crore to DoT in AGR dues.
