Vodafone Idea Share Price Under Pressure, Declines Over 6% In Five Sessions
The stock has seen a nearly 10% decline in the last three months and has dropped almost 50% over the past year, largely due to its financial obligations.
Vodafone Idea Ltd.'s share price continued to face significant pressure, declining 1.77% on Wednesday. This marks the second consecutive day of losses, following a 4.41% drop on Tuesday.
Over the past week, the stock has fallen 6.18%, and it has decreased 5.39% over the past month. The stock has seen a nearly 10% decline in the last three months and has dropped almost 50% over the past year, largely due to its financial obligations.
NDTV Profit reported yesterday that the government is actively exploring ways to support Vodafone Idea, which is under severe financial strain after the Supreme Court dismissed its plea regarding adjusted gross revenue dues.
The Centre is committed to maintaining healthy competition in the telecom sector and is firmly opposed to the formation of a duopoly, according top officials who spoke to NDTV Profit on the condition of anonymity.
Officials are currently considering several measures, including a moratorium on pending AGR payments. These discussions are being conducted in collaboration with the Department of Telecommunications, which is evaluating the legal and financial feasibility of each option.
One proposal under serious consideration involves asking banks to extend fresh credit to Vodafone Idea. In return, the government may offer concessions to lenders to mitigate their risk exposure to the telecom sector.
