Bharti Airtel, Vodafone Idea shares gain up to 3% after Bombay HC relief on spectrum dues

Shares of telecom service providers Bharti Airtel Ltd. and Vodafone Idea Ltd. gained up to 3% on Tuesday, June 9, after the Bombay High Court announced a major decision on the One Time Spectrum Charge imposed on these companies.

Shares of Vodafone Idea have gained over 2.5% on Tuesday in early trades, while those of Bharti Airtel are trading with gains of 0.7%.

What Is The 2012 Government Spectrum Decision?

The Bombay High Court has quashed the government's decision in 2012 to impose a one-time spectrum charge for spectrum above 6.2 Mhz.

Quashing the demand notice, the Bombay High Court has also allowed petitions filed by both the companies.

The one-time spectrum charge (OTSC) was imposed in 2012 and was retrospective in nature, dating back to 2008.

What Did The Bombay High Court Say?

The Bombay High Court, in its ruling, said that the centre has not been able to justify the decision of levying the OTSC in a retrospective manner and therefore, it has directed the centre to return the bank guarantees submitted by both Bharti Airtel and Vodafone Idea.

What Is The Amount Of Relief For Bharti Airtel & Vodafone Idea?

While company specific details are not available, the estimated relief for both Bharti Airtel and Vodafone Idea is said to be worth nearly ₹20,000 crore.

Why Will Vodafone Idea Be In Focus?

Vodafone Idea has been in the news over the last one month, having added subscribers on a net basis for three months in a row, followed by multiple credit rating upgrades that the debt-laden telecom service provider has received.

Despite the relief it has received around AGR dues, the company still has spectrum liabilities amounting to over ₹1.2 lakh crore. According to a note from IIFL, the company may need another equity fund raise to meet spectrum obligations.

Shares of Vodafone Idea ended 4% lower on Monday at ₹14.35. The stock is still up 24% so far this year, while those of Bharti Airtel ended 1.2% higher at ₹1,820.1. The stock has underperformed Vodafone Idea so far in 2026, trading with losses of 14%.