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The board also accepted the request of Ravinder Takkar to step down as non-executive chairman. However, he will continue on the board as a non-executive director and has been appointed non-executive vice chairman with effect from 5 May 2026.
Birla’s return comes at a critical juncture for the telecom operator, which has been battling heavy debt, subscriber losses and intense competition from larger rivals.
The appointment follows recent relief for Vodafone Idea on its adjusted gross revenue (AGR) dues. In an exchange filing dated 30 April 2026, Vodafone Idea said the DoT had finalized its AGR dues at Rs 64,046 crore as on 31 December 2025, sharply lower than the previously frozen amount of Rs 87,695 crore.
The revised liability was finalized after reassessment by a government-appointed committee following directions from the Supreme Court permitting the Centre to examine Vodafone Idea’s grievances related to AGR dues.
As per the DoT communication, Vodafone Idea will pay a minimum of Rs 100 crore annually for four years from FY32 to FY35, while the remaining amount will be paid in six equal annual instalments from FY36 to FY41.
The reduction in AGR dues and the elongated repayment schedule are expected to ease the company’s long-term cash flow burden and strengthen its survival prospects in the highly competitive telecom market.
Investors also interpreted Birla’s return as a sign of renewed promoter commitment toward Vodafone Idea’s turnaround strategy. He had stepped down as chairman in 2021 amid mounting financial stress and uncertainty over the company’s future.
Vodafone Idea has been focusing on fundraising, network expansion and 5G rollout plans to regain competitiveness in the Indian telecom market.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is India’s third-largest telecom operator and provides wireless and broadband services under the Vi brand. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. The company provides Voice and Data services across 2G, 4G and 5G platforms and is expanding 5G services across 17 circles.
The company’s consolidated net loss narrowed to Rs 5,286 crore in Q3 FY26 from Rs 6,609 crore in Q3 FY25. Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
Earlier, the Department of Telecom (DoT) had frozen the telecom operator’s AGR dues at Rs 87,695 crore as of 31st December 2025, subject to review. The revised figure reflects the outcome of that reassessment process.
According to the company the dues will be repaid over a 10-year period, with a minimum payment of Rs 100 crore annually for four years from FY 2031-32 to FY 2034-35. The remaining amount will be paid in six equal annual installments from FY 2035-36 to FY 2040-41.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India’s leading telecom service providers. The company holds a large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave spectrum in 16 circles. The company provides Voice and Data services across 2G, 4G and 5G platforms and is expanding 5G services across 17 circles.
The company’s consolidated net loss narrowed to Rs 5,286 crore in Q3 FY26 from Rs 6,609 crore in Q3 FY25.Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
Vodafone Idea Ltd, Raymond Lifestyle Ltd, MTAR Technologies Ltd and 63 Moons Technologies Ltd are among the other gainers in the BSE's 'A' group today, 30 January 2026.
Vardhman Textiles Ltd soared 12.93% to Rs 466.9 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 82155 shares were traded on the counter so far as against the average daily volumes of 7187 shares in the past one month.
Vodafone Idea Ltd surged 11.64% to Rs 11.22. The stock was the second biggest gainer in 'A' group. On the BSE, 1160.09 lakh shares were traded on the counter so far as against the average daily volumes of 752.51 lakh shares in the past one month.
Raymond Lifestyle Ltd spiked 11.13% to Rs 1025.3. The stock was the third biggest gainer in 'A' group. On the BSE, 1.42 lakh shares were traded on the counter so far as against the average daily volumes of 5497 shares in the past one month.
MTAR Technologies Ltd jumped 9.41% to Rs 2998.8. The stock was the fourth biggest gainer in 'A' group. On the BSE, 1.25 lakh shares were traded on the counter so far as against the average daily volumes of 39862 shares in the past one month.
63 Moons Technologies Ltd gained 9.30% to Rs 672.55. The stock was the fifth biggest gainer in 'A' group. On the BSE, 16263 shares were traded on the counter so far as against the average daily volumes of 7754 shares in the past one month.
Realty shares climbed for second consecutive trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex advanced 70.28 points or 0.09% to 81,927.48. The Nifty 50 index added 43.15 points or 0.18% to 25,217.60.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index jumped 0.41% and the S&P BSE Small-Cap index rose 1.41%.
The market breadth was positive. On the BSE, 2,736 shares rose and 1,408 shares fell. A total of 155 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 5.43% to 13.67.
Indian Politics:
Ajit Pawar, NCP chief and Maharashtra’s Deputy Chief Minister, died in a plane crash near Baramati on Wednesday while travelling from Mumbai. Four others, including the pilots and his security personnel, were also killed. The small aircraft, a Learjet 45 operated by VSR, reportedly crashed during a landing attempt near Baramati airport about 45 minutes after take-off, as Pawar was on his way to attend public meetings ahead of the local body polls.
Television visuals showed fire and wreckage at the site, while media reports said all five people on board died. The 66-year-old leader was the nephew of Sharad Pawar and the cousin of Supriya Sule, both of whom were in Delhi and were expected to travel to Pune.
Buzzing Index:
The Nifty Realty index fell 0.86% to 765.90. The index gained 1.26% in the two consecutive trading sessions.
Sobha (up 3.12%), DLF (up 2.04%), Godrej Properties (up 1.5%), Prestige Estates Projects (up 1.49%), Lodha Developers (up 1.14%), Oberoi Realty (up 0.4%) and Phoenix Mills (up 0.08%) surged.
Numbers to Track:
The yield on India's 10-year benchmark federal paper was declined 0.16% to 6.708 as compared with the previous close of 6.719.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 91.8000 compared with its close of 91.6850 during the previous trading session.
MCX Gold futures for 5 February 2025 settlement rallied 4% to Rs 1,64,000.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.51% to 96.24.
The United States 10-year bond yield rose 0.45% to 4.242.
In the commodities market, Brent crude for March 2026 settlement was unchanged at $67.57 a barrel.
Stocks in Spotlight:
Bikaji Foods International added 2.58% after the company’s consolidated net profit surged 116.32% to Rs 62.17 crore on 11.45% increase in revenue from operations to Rs 775.78 crore in Q3 FY26 over Q3 FY25.
Vodafone Idea shed 0.20% after the company’s consolidated net loss narrowed to Rs 5,286 crore in Q3 FY26 from Rs 6,609 crore in Q3 FY25. Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
Siyaram Silk Mills declined 5.66% to Rs 526 after the company reported a 7.98% decline in consolidated net profit to Rs 41.77 crore on a 9.35% increase in revenue from operations to Rs 624.08 crore in Q3 FY26 over Q3 FY25.
Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
While reported EBITDA improved by 2.21% YoY to Rs 4,816 crore, reported EBITDA margin expanded to 42.5% in Q3 FY26 from 42.4% in Q3 FY25.
Customer ARPU (ex M2M) was Rs 186 in Q3 FY26 as against Rs 173 in Q3 FY25, up 7.3% YoY.
The company’s 4G/5G subscriber base rose to 128.5 million in Q3 FY26 from 126.0 million in Q3 FY25. Average data usage by 4G/5G subscribers was 19.2 GB/day for Q3 FY26, up 26.7% YoY.
The company said that it had raised Rs 3,300 crore via NCD issue through its subsidiary and the proceeds from this issue would be utilised towards capex.
The Department of Telecommunications has confirmed that Vodafone Idea’s AGR liability has been frozen at Rs 87,695 crore as of 31 December 2025, subject to reassessment. The revised payment structure significantly eases near-term cash outgo, with annual payments capped at Rs 124 crore over the next six years, followed by Rs 100 crore annually for four years, and the balance payable later without additional interest.
Abhijit Kishore, CEO, Vodafone Idea, said “This quarter marked an important inflection point for the company with positive resolution of key legacy issues.
We are thankful to the Government for offering a definitive, long-term and conclusive solution on the AGR matter. We also concluded the settlement of CLAM receivable of Rs 6,394 crore with the Vodafone Group.
One of the key milestones for the quarter was the successful NCD raise of Rs. 3,300 Crore, despite an AGR overhang; a clear reflection of lender confidence on our ability to improve the business performance.
Collectively, these developments have strengthened the trajectory of our debt discussions which will enable us to execute our larger capex plan to strengthen the network and further elevate the customer experience.
On the operational side, our market initiatives translated into deeper customer engagement with ARPU and data consumption improving sequentially.”
Oil & gas, metal and media shares advanced while FMCG and pharma shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex jumped 487.20 points or 0.60% to 82,344.68. The Nifty 50 index added 167.35 points or 0.66% to 25,342.75. In two consecutive trading sessions, the Sensex added 0.99% while the Nifty rose 1.17%.
The broader market outperformed frontline indices. The S&P BSE Mid-Cap index rose 1.69%, while the S&P BSE Small-Cap index added 1.81%.
The market breadth was strong. On the BSE, 2,945 shares rose and 1,291 shares fell. A total of 144 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 6.93% to 13.45.
New Listing:
Shares of Shadowfax Technologies ended at Rs 109.90 on the BSE, representing a discount of 11.37% as compared with the issue price of Rs 124
The stock debuted at Rs 113 on the BSE, exhibiting a discount of 8.87% over the issue price.
The stock has hit a high of 119.55 and a low of 109. On the BSE, over 33.05 lakh shares of the company were traded in the counter.
Television visuals showed fire and wreckage at the site, while media reports said all five people on board died. The 66-year-old leader was the nephew of Sharad Pawar and the cousin of Supriya Sule, both of whom were in Delhi and later arrived in Baramati.
TVS Motor Company rallied 4.72% after its standalone net profit jumped 52.04% to Rs 940.37 crore on 37.14% jump in revenue from operations to Rs 12,476.26 crore in Q3 FY26 over Q3 FY25. During the quarter under review, the company’s electric vehicle (EV) sales rose 40% year on year to a record 1.06 lakh units in the quarter ended December 2025, compared with 0.76 lakh units in the corresponding period last year.
Vodafone Idea advanced 1.02% after the company’s consolidated net loss narrowed to Rs 5,286 crore in Q3 FY26 from Rs 6,609 crore in Q3 FY25. Revenue for the quarter stood at Rs 11,323 crore, up 1.9% YoY.
Bharat Electronics (BEL) surged 8.90% after its standalone net profit jumped 20.81% to Rs 1,590.06 crore on 23.72% rise in revenue from operations to Rs 7,121.98 crore in Q3 FY26 over Q3 FY25. The company’s order book position stood at Rs 73,015 crore as of 1 January 2026.
Maruti Suzuki India (MSIL) declined 2.39%. The company reported a 4.08% YoY rise in net profit to Rs 3,879.1 crore in Q3 FY26, compared with Rs 3,726.9 crore in Q3 FY25. Revenue from operations rose 29.2% YoY to Rs 47,534.4 crore, driven by a sharp recovery in the Indian car market led by the small car segment.
Sunteck Realty rose 1.62%. The company reported a 33.7% increase in consolidated net profit to Rs 56.84 crore on a 112.7% rise in revenue from operations to Rs 344.12 crore in Q3 FY26 over Q3 FY25.
Vishal Mega Mart tanked 4.12%. The company reported a 19.10% rise in consolidated net profit to Rs 312.92 crore in Q3 FY26, compared with Rs 262.72 crore posted in Q3 FY25. Revenue from operations rose 17.04% year-on-year (YoY) to Rs 3,670.41 crore for the quarter ended 31 December 2025.
Mahindra Logistics surged 15.33% after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25 Mahindra Logistics surged 14.65% to Rs 337 after the company reported a consolidated net profit of Rs 3.25 crore in Q3 FY26, compared with a net loss of Rs 9.03 crore in Q3 FY25..
Motilal Oswal Financial Services surged 7.69% after the company reported a strong set of earnings for the quarter ended December 2025. The company’s profit after tax (PAT), including treasury income and other comprehensive income (OCI), jumped 58% year on year to Rs 721 crore in Q3 FY26, aided by healthy traction in its asset and private wealth management businesses. Total revenue improved 11% to Rs 1,497 crore in Q3 FY26 as against Rs 1,345 crore in Q3 FY25.
Bondada Engineering declined 3.58%. The company’s consolidated net profit zoomed 119.12% to Rs 54.19 crore in Q3 FY26 as against Rs 24.73 crore in Q3 FY25. Revenue from operations jumped 89.40% year on year (YoY) to Rs 712.27 crore in Q3 FY26.
Nesco shed 1.48%. The company reported a 4.82% YoY decline in net profit to Rs 104.64 crore in Q3 FY26, on a 20.03% increase in revenue from operations to Rs 247.92 crore compared with Q3 FY25.
Global Markets:
European markets declined on Wednesday as investors digested a wave of corporate earnings and remained cautious ahead of the U.S. Federal Reserve’s interest rate decision, due later in the day.
Investors will also be keeping an eye on U.S. earnings calendar on Wednesday with Microsoft, Meta Platforms, and Tesla set to post their quarterly financial results after the closing bell. Apple will post its results on Thursday.
Most Asian markets ended higher, with strong gains in technology and AI-related shares.
Meanwhile, Australia saw its headline inflation come in at 3.6% for the last quarter of 2025, its highest level of inflation in six quarters.
Overnight in the U.S., the Nasdaq Composite climbed 0.91% to settle at 23,817.10, while the Dow Jones Industrial Average broke ranks, losing 408.99 points, or 0.83%, and settling at 49,003.4 while S&P 500 added 0.41% to end at 6,978.60.
The S&P 500 futures edged higher ahead of the Federal Reserve’s interest rate decision and earnings reports from major tech companies.
The central bank is widely expected to keep its benchmark interest rate steady at a target range of 3.5% to 3.75%, but traders will be seeking hints on longer-term changes to monetary policy.
Vodafone Idea Ltd rose 5.48% today to trade at Rs 12.13. The BSE Telecommunication index is up 1.37% to quote at 3151.91. The index is up 3.71 % over last one month. Among the other constituents of the index, Indus Towers Ltd increased 5.23% and ADC India Communications Ltd added 2.45% on the day. The BSE Telecommunication index went up 11.81 % over last one year compared to the 8.25% surge in benchmark SENSEX.
Vodafone Idea Ltd has added 13.05% over last one month compared to 3.71% gain in BSE Telecommunication index and 0.44% drop in the SENSEX. On the BSE, 156.58 lakh shares were traded in the counter so far compared with average daily volumes of 907.85 lakh shares in the past one month. The stock hit a record high of Rs 12.8 on 31 Dec 2025. The stock hit a 52-week low of Rs 6.12 on 14 Aug 2025.