Vodafone Idea shares experienced a significant drop of up to 12% on October 30, following a written order from the Supreme Court regarding the company's plea related to additional adjusted gross revenue (AGR) dues. The ruling has also affected other telecom stocks, with Indus Towers and Bharti Airtel seeing declines of 3% and 1.5%, respectively. By 10:30 am on October 30, Bharti Hexacom shares were trading nearly 3% lower at Rs 1,861 apiece. This downturn reflects growing concerns about Vodafone Idea's financial stability amid ongoing regulatory challenges.

The Supreme Court's order, issued on October 29, allows the Indian government to reconsider Vodafone Idea's AGR dues, but it applies solely to the company and pertains only to additional dues for the period up to FY2016-17. As highlighted by Piyush Pandey, a lead analyst at Centrum India, the court's order is limited to the incremental AGR demand, emphasizing that any substantial relief from the government is crucial for improving Vodafone Idea's stock performance. By 10:50 am on October 30, Vodafone Idea shares were trading 7.5% lower at Rs 8.65, marking a continued decline as the stock faced its third consecutive session of losses.

The Supreme Court's decision has raised questions about potential government relief measures, with Telecom Minister Jyotiraditya Scindia stating on October 29 that the government would assess the order's implications before making any policy decisions. Officials confirmed that a thorough examination of the judgment would guide future actions regarding relief for Vodafone Idea. The company’s stock had briefly touched a one-year high of Rs 10.57 on October 27, buoyed by hopes for relief, but uncertainty surrounding the government's response has now overshadowed those gains, leading to a 3.5% increase in the stock price for the year thus far.