Vodafone Idea gains for 4th straight day, up 26% in September; here's why

Shares of Vodafone Idea (Vi) hit an over four-month high at ₹8.19, gaining 7% on the BSE in Monday's intra-day trade amid heavy volumes. The stock now trades at its highest level since April 25, 2025.

Vodafone Idea (Vi) shares price today

 

Shares of Vodafone Idea (Vi) hit an over four-month high at ₹8.19, gaining 7 per cent on the BSE in Monday’s intra-day trade backed by heavy volumes. The stock price of the telecom services provider was quoting higher for the fourth straight trading day, surging 13 per cent during the period. Thus far in the month of September, it has rallied 26 per cent, and now trades at its highest level since April 25, 2025.

 

At 11:41 AM; Vi stock was trading 6 per cent higher at ₹8.10, as compared to 0.07 per cent decline in the BSE Sensex. The counter has seen huge trading volumes; with a combined 1,037 million equity shares changing hands on the NSE and BSE. 

 

Key reasons driving Vi stock price higher in September

 

According to reports Vi has moved a writ petition in the Supreme Court seeking directions to set aside the additional demand of adjusted gross revenue (AGR) dues by the telecom department while arguing that it belonged to the pre 2016-17 periods that had been settled by the Supreme Court’s earlier ruling.

 

According to the petition details, seen by Business Standard, the DoT has raised a demand of ₹5,606 crore, which falls under the 2016-17 period on which the SC had ruled back in 2020, that there will be no recalculation of the dues, setting liabilities for Vodafone Idea at ₹58,254 crore. CLICK HERE FOR FULL REPORT  According to media reports, Vi’s case against DoT assessment of the additional AGR dues is tentatively listed for hearing on September 19.  Last month, reports suggested that the central government is looking for a strategic investor who is willing to commit $1 billion (over ₹8,800 crore) into Vodafone Idea for a 12-13 percent stake. Promoters Aditya Birla Group (ABG) and UK's Vodafone will have the option to dilute some of their stake as the government wishes to remain invested in the telecom giant for some more time. However, on August 26, MoS Telecom ruled out any further government relief. 

 

On August 26, Vi clarified that the company has not received any communication from the Government in relation to the above reported matter. “As and when there is any development which requires disclosure, we will do the needful,” Vi said in an exchange filing.

 

In terms of funding, the management in Q1FY26 earnings conference call said the company is engaged with banks. The discussions have again started moving forward, once the conversion happened and the credit rating upgrade happened. The banks are currently looking for some clarity on the AGR front. So that is where the company is engaged with the government. The management said they are quite confident that there will be a solution to AGR.

 

Meanwhile, according to the investor presentation on September 10, Vi said that the company has the highest spectrum per million subscribers (excl mmWave) which is expected to drive near term growth; sufficient spectrum is available to support migration of entire 4G subscribers to 5G. 

 

The company said price increase and subscriber additions to drive revenue growth FY25 onwards. Digital transformation, enhanced customer experience and partnership to drive cash generation.

 

There is significant headroom in average revenue per user (ARPU) as usage has increased multi-fold but ARPU have not increased in line with usage; customer ability to pay higher is already established. Prices need further uptick to generate reasonable returns and support future investments, the company said. It further added that the government of India deferred obligations are to be repaid in installments up to FY44.

 

The outstanding as of end of June 2025 was about ₹1.19 trillion for deferred payment towards spectrum, and about ₹76,000 crore for the AGR. So, totalling up to about ₹1.95 trillion, Vi had said in its Q1FY26 earnings conference call.