Vodafone Idea shares halve in 1 year. Bargain opportunity or value trap?

Vodafone Idea shares have slipped over 57% over the past year as mounting adjusted gross revenue (AGR) dues and the government’s refusal to offer fresh relief cloud the debt-laden telecom operator’s survival prospects. The stock closed 9.3% lower at ₹6.71 on Tuesday after the government clarified that no additional concessions are being considered, leaving investors to weigh whether the beaten-down shares represent a contrarian opportunity or a deepening value trap.