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Informist, Friday, Nov 21, 2025

MUMBAI - Shares of Vodafone Idea are likely to see a continued pressure in the near term but are expected to rise when the government bring in a relief package for the company with respect to its adjusted gross revenue, or AGR, dues. The stock closed almost 2% lower at INR 9.97 Friday on the National Stock Exchange, extending its losing run for the fifth straight day and falling almost 9% in these sessions. 

 

Some market participants as well as the company are hopeful that the AGR issue will be resolved as soon as possible. There has been a long-standing disagreement between telecom operators and the Department of Telecommunications with respect to the particulars of AGR. Domestic telecom companies said that revenue from core telecom services should be included in AGR while the government argues that all revenue should be part of AGRs, including non-telecom sources such as interest and asset sales. 

 

Last week, news reports, citing government sources, had said that the government initiated the process of preparing a relief package for the company with respect to AGRs. This follows the Supreme Court's verdict in the matter in October when the apex court allowed the government to reconsider the issue of additional AGR demand of INR 94.50 billion till 2018-19 (Apr-Mar) against the telecom operator and take appropriate steps.

 

Sentiment towards another telecom operator Bharti Airtel is also positive, supported by expectations of strong earnings, subscriber additions, and rise in its average revenue per user, or ARPU. This week, S&P Global Ratings upgraded the company's long-term issuer credit rating to 'BBB' from 'BBB-', with a positive outlook. It expects the company's earnings growth to be strong over the next 24 months, driven by its Indian operations. Its earnings from the Africa business is seen steady at around 20% of its consolidated earnings through FY27, S&P said. On Friday, shares of Bharti Airtel closed 0.2% higher at INR 2,162.70 on the NSE and gained 3% this week. 

 
TOP HEADLINES
* HC OKs Delhi Metro selecting Indus Towers for wireless mobile connectivity
* S&P Global ups Bharti Airtel long-term rtg to BBB from BBB-, outlook positive
* HC orders fresh hearing of MTNL plea vs INR-1-bln arbitral award to Motorola

 

Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:

 

Company	Price	Week-on-week  change in %	Resistance	Support
Bharti Airtel	2,162.70	3.00	2187.80	2136.00
Mahanagar Telephone Nigam	39.03	(-)4.90	40.30	38.40
Reliance Industries	1546.60	1.80	1565.90	1530.50
Tata Communications	1920.90	2.50	1973.80	1869.60
Tata Teleservices Maharashtra	50.91	(-)5.80	51.80	50.40
Vodafone Idea	9.97	(-)8.90	10.40	9.70
Nifty 50	26068.15	0.60	26226.90	25972.90
S&P BSE Sensex	85231.92	0.80	85764.60	84921.50

End

Reported by Anjana Therese Antony
Edited by Akul Nishant Akhoury

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