By Shishir Prashant 
PrashantNews
Vodafone Idea shares on Thursday tanked 6.83 percent to close at 8.73 on BSE in the highly volatile session after the Supreme Court recent order on the company’s adjusted gross revenue (AGR) dues.
However, the company described the ruling as “positive development” and said the Supreme Court has permitted the Government to consider the grievances of Vodafone Idea on the issues relating to AGR.
“We look forward to working closely with the Department of Telecommunications to resolve this matter in the interests of our nearly 200 million subscribers. This is an impetus to the Digital India vision and ambition of our Honourable Prime Minister,” the company said in a BSE filing.
Vodafone Idea’s stock, which had surged to a 52-week high of Rs 10.52 following the initial order, surrendered nearly all gains as sentiment turned cautious. Analysts had initially seen the ruling as a potential breakthrough — with Motilal Oswal terming it “significant” for reducing AGR liabilities and Emkay Capital calling it “crucial for the company’s survival.”