**Vodafone Idea Up 33% This Month: What’s Behind the Rally?**
*By Mudit Dube | Sep 23, 2025, 01:22 PM*
Vodafone Idea’s shares have witnessed a significant surge, rising as much as 7% in today’s trading session. This marks the third gain for the stock in four sessions, resulting in an impressive rise of over 33% since September 4, when shares were trading around 6.6. At the time of writing, Vodafone Idea shares stood at 8.73 apiece, up 4%.
### What’s Driving the Rally?
#### Legal Developments
The key factor behind this sudden rally is the Supreme Court’s agreement to hear Vodafone Idea’s plea concerning some of its adjusted gross revenue (AGR) dues. During last Friday’s hearing, the government expressed that it does not oppose Vodafone Idea’s AGR plea but emphasized the need to find a solution as an equity holder in the company. The Supreme Court is scheduled to hear the matter on Friday, September 26.
#### Government Stake Conversion
Adding to the positive sentiment, the government converted some of Vodafone Idea’s outstanding dues into equity, raising its stake to 49%. This move makes the government the largest shareholder in the debt-laden telecom operator. However, several officials from the telecom ministry, including Telecom Minister Jyotiraditya Scindia, have clarified that there are no plans to raise their stake beyond 49%.
#### Broker Analysis
Brokerage firm Citi has labeled Vodafone Idea shares as a “high-risk” buy, setting a price target of 10. This recommendation came in the wake of the Supreme Court admitting Vodafone Idea’s latest AGR plea and the government’s support, which has increased the chances of potential relief for the company.
With total AGR liabilities nearing ₹2 trillion, Vodafone Idea has warned that these added claims threaten its survival, its 198 million subscribers, and over 18,000 jobs.
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The developments point to a cautiously optimistic outlook for Vodafone Idea, with legal and financial relief possibly paving the way for a turnaround in the struggling telecom operator’s fortunes.
https://www.newsbytesapp.com/news/business/vodafone-idea-shares-jump-7-on-agr-plea-hearing/story
