Shares of Vodafone Idea Ltd. surged nearly 4% to ₹10.32 on December 2, snapping a two-session losing streak, after Union Telecom Minister Jyotiraditya Scindia indicated that the government may finalise recommendations for AGR (Adjusted Gross Revenue) relief for the telecom operator in the coming weeks.

Government Awaits Formal Proposal

Speaking to CNBC-TV18, Scindia stated that the Department of Telecommunications (DoT) is awaiting a formal request from the company before proceeding. “DoT is waiting for a formal request from Vodafone. The government will make a recommendation after evaluating Vodafone Idea’s proposal,” he said.

He added that the ministry is examining the legal boundaries set by a recent Supreme Court judgement, which allowed the government to reassess the company's dues up to FY17. “We cannot cross the border of the SC judgement,” Scindia noted.

Timeline for Relief

The minister suggested that the government could complete its assessment and issue recommendations within a couple of weeks, with the contours of a potential relief package likely to be announced by the end of the year.

He also clarified that any government recommendations would be specific to Vodafone Idea, as the Supreme Court's judgement pertained to this company alone.

Background on AGR Dues

The Supreme Court's recent ruling was seen as a major relief for the financially stressed operator. In September, Vodafone Idea sought a waiver of penalty and interest on an AGR demand of ₹9,450 crore, arguing a significant portion related to the pre-FY17 period already addressed by the court in 2020.

The government is already the largest shareholder in Vodafone Idea, holding nearly a 49% stake after converting dues worth ₹36,950 crore into equity earlier this year.

Stock Performance

The stock has risen around 7% in the past month and is up over 27% year-to-date in 2025. After hitting a 52-week low of ₹6.12 in August, it rallied more than 81% to a high of ₹11.08 in November before paring some gains.