Shares of Vodafone Idea Ltd. fell over 12% in trade on Monday, after the Supreme Court dismissed the telecom operators’ petition on adjusted gross revenue dues waiver, calling them ‘misconceived.’ This follows the government’s plea rejection for relief earlier in the day. The court acknowledged that the companies can explore other remedies. However, it clarified that they can’t pursue the same th
The scrip fell as much as 12.08% to Rs 6.48 apiece, the lowest level since May 9. It pared losses to trade 8% lower at Rs 6.78 apiece, as of 2:02 p.m. This compares to a 0.21% decline in the NSE Nifty 50 Index.
It has fallen 14.99% on a year-to-date basis, and 49.21% in the last 12 months. Total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 47.50. Out of 21 analysts tracking the company, five maintain a ‘buy’ rating, four recommend a ‘hold,’ and 12 suggest ‘sell,’ according to Bloomberg data.