Vodafone Concept shares in Wednesday’s session after extending the day gone by’s sharp good points on the open pared their early good points. At round 10:45 am, shares of the debt-ridden firm traded weak by 0.25 per cent to Rs 8.08 per share.
Nonetheless, from the day’s excessive it cracked as much as 4.8 per cent to the day’s low value of Rs 7.93 apiece.
Within the earlier session, the inventory zoomed as a lot as 26 per cent to the day’s excessive value because the Centre introduced plans to transform partial AGR dues of the beleaguered telecom operator to fairness, elevating its stake within the entity.
As a part of the fabric improvement intimation, the corporate mentioned, “knowledgeable that Ministry of Communications, Authorities of India has, consistent with the September 2021 Reforms and Assist Package deal for Telecom Sector has determined to transform the excellent spectrum public sale dues, together with deferred dues repayable after expiry of the moratorium interval, into fairness shares to be issued to the Authorities of India underneath Part 62(4) of the Corporations Act, 2013. This was communicated to the corporate by way of an order dated 29 March 2025, acquired by the corporate at present, i.e. 30 March 2025.”
