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Vodafone Idea Surges After Another Tranche Payment In AGR Dues
Shares in Vodafone Idea limited jumped up to 9% to Rs. 9.69 per share on the BSE. This is after the beleaguered telecom player has cleared another tranche of AGR dues of Rs. 1000 crore. Taking the total payment to the government to Rs. Rs 7854 crore
" The Company has yesterday (i.e. 17 July 2020) paid a further sum of Rs. 1,000 crore to the DoT towards the AGR dues. The Company had earlier deposited Rs. 6,854 crores in 3 tranches. The Company has thus paid an aggregate amount of 7,854 crores towards the AGR dues," said the telco in a regulatory filing on Saturday.
Still the telco has to clear the due worth Rs. 51,400 crore. The AGR dues case is currently underway and the Supreme Court is likely to hear the matter today. Earlier, the apex court asked telcos to submit last 10 years financial statements.
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