Vodafone Idea Shares: Vodafone Idea shares fell sharply today on September 19 after a decision by the Supreme Court. The Supreme Court ruled against telecom companies in the Adjusted Gross Revenue (AGR) case, giving them no relief. After this decision, Vodafone Idea shares fell 15% to Rs 10.96 and the stock touched its lower circuit limit. The AGR dues on the company have now reached Rs 70,300 crore.

The Supreme Court clarified in its decision that it had thoroughly reviewed the curative petitions and the documents attached to them, but it did not find any strong case presented by the telecom companies. For this reason, the court dismissed all the petitions. Telecom companies had cited errors in the calculation of AGR dues, but the court rejected it.

According to Balaji Subramaniam, Vice President of IIFL Securities, if Vodafone Idea had got relief from the Supreme Court, the company's shares could have seen a jump of up to Rs 5 per share. But now, after this negative decision, the company's cash flow situation has become more serious.

Subramaniam told CNBC-TV18 that this decision has increased the financial difficulties for Vodafone Idea. In such a situation, Bharti Airtel may get a chance to regain its market share.

Subramaniam said that now the situation of Vodafone Idea will be closely monitored to see if the company will be able to complete its fundraising plan after this negative decision. Raising funds has become very important for the company, because without it it will not be able to continue its capital expenditure plans.

According to IIFL Securities, Bharti Airtel currently has AGR dues of Rs 36,000 crore, which is much less than Vodafone Idea. After a huge fall in Vodafone Idea shares, it has now come down to Rs 10.96, which is even below the company's follow-on public offer (FPO) price of Rs 11.