Vodafone Idea Share Price Rises 3.5% Amid Licence Fee Liability Reassessment

Market Update

Vodafone Idea's share price has increased by 3.5% following reports that the company's licence fee liability may be reduced by 60-65% after a reassessment exercise conducted by the Department of Telecommunications (DoT). The reassessment, which was completed through the Controller of Communication Accounts (CCA) offices, is expected to result in a significant reduction in the company's licence fee liability.

Outstanding Liabilities

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Vodafone Idea's outstanding adjusted gross revenue (AGR) liabilities include both licence fees and spectrum usage charges. The company has stated that its AGR dues related to the period between financial year 2006-07 and financial year 2018-19 will be frozen and repaid through instalments beginning March 2026.

Stock Performance

Vodafone Idea's stock has risen to an intraday high of ₹10.35, representing a 3.6% increase in the session. However, the stock remains 19% below its 52-week high of ₹12.80 recorded in December 2025.

Recent Performance

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Over the past one month, Vodafone Idea's shares have declined by 10%, while the stock has slipped by 7% in the last three months. However, the telecom stock has gained 39% in six months and is up 28% over the past year.

Downgrade by JPMorgan

Global brokerage JPMorgan has downgraded Vodafone Idea shares, assigning an 'Underweight' rating and setting a target price of ₹9 per share. The brokerage warned of potential downside in the telecom stock, citing concerns over the company's ability to secure bank funding required to support the next phase of capital expenditure.

Promoter's Stake Increase

Promoter Kumar Mangalam Birla has increased his holding in Vodafone Idea by purchasing 7.83 crore shares between January 30 and February 4. This move has been seen as a positive development for the company.