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Vodafone Idea stock zoomed 10% in Monday's trading session on the back of AGR relief.
The Department of Telecommunications reduced Vodafone Idea's AGR dues by 27% to ₹64,046 crore.
KEY POINTS
- Most of the revised AGR dues will be paid in six installments over FY36 to FY41.
- Citi Research estimates the net present value of the AGR liability now drops from ₹35,000 crore to ₹26,000 crore.
- Vodafone Idea is now better positioned to raise ₹25,000 crore in bank debt after regulatory clarity.
- Citi's ₹14 target price assumes operational recovery post-fundraise but rates the stock as High Risk.
COMPANIES
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