Vodafone Idea share price rises 10% — What sparked the market rally?

Shares in the debt-laden Vodafone Idea Ltd surged by around 10% on Monday, following reports that the Supreme Court had confirmed the government is permitted to consider relief on the entirety of the telecom firm’s Adjusted Gross Revenue (AGR) dues.

The moratorium on Vodafone Idea’s spectrum and AGR payments concluded in September. Telecom operators, including Vodafone Idea, have consistently contested the government’s method of calculating AGR.