Vodafone Idea Share Price Highlights: Stock closes over 7% lower as SC defers AGR dues verdict to Oct 6

Vodafone Idea Share Price Highlights:

The Supreme Court has deferred its AGR dues verdict to October 6. This comes after the Centre asked for more time from the top court.

Previously, the SC had deferred its hearing from last week on September 19 to today, September 26.

The stock has closed at a price of ₹8.04 on Friday, down 7.4% from last closing price after the SC deferred its hearing.

During the Supreme Court hearing last week, the Centre said it does not oppose Vodafone Idea's plea on the adjusted Adjusted Gross Revenue (AGR) dues. However, some solution was required as the Centre too is an equity holder in the company.

The Supreme Court had observed there had to be some finality to the proceedings and deferred the plea to Friday, September 26.

The Centre is the largest shareholder in Vodafone Idea as it holds a 49% stake in the company. However, it is not classified as a promoter.

Earlier this year, Central government ministers had told CNBC-TV18 on separate occasions that the Centre was not looking at extending further relief to Vodafone Idea and nor does it have plans to convert it into a public sector undertaking (PSU).