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Vodafone Idea Shares Jump 10% on AGR Relief News

Vodafone Idea Shares Jump 10% on AGR Relief News

Vodafone Idea shares surged 10% after reports of relief in Adjusted Gross Revenue (AGR) dues surfaced. The government is considering converting the telco's interest on AGR dues into equity, potentially reducing its financial burden. This decision could make the government the largest shareholder in the company, holding a 33% stake. Analysts believe this move may ease Vodafone Idea's cash flow issues and improve its survival prospects in a competitive telecom market. The company's financial stability remains critical as it works to regain market share.

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