Vodafone Idea slides 19%, Indus Towers plunges 12%; SC upholds AGR ruling against telcos

Vodafone Idea and Indus Towers faced significant declines on Thursday, September 19, after the Supreme Court rejected curative petitions from telecom companies in the Adjusted Gross Revenue (AGR) dues case. Vodafone Idea’s stock dropped as much as 19% to intra-day low Rs 10.36 on NSE, raising concerns over the financial obligations facing the sector.

Concurrently, Indus Towers experienced a 12% decline—its largest single-day drop since June 4—hitting a lower circuit limit of Rs 384.80 on the Bombay Stock Exchange (BSE).