Telecom operator Vodafone Idea witnessed a sharp 12% decline in share price after the Supreme Court’s written order weakened expectations of adjusted gross revenue (AGR) relief. The verdict clarified payment obligations, limiting the company’s scope for further adjustments. Market analysts said the decision could pressure near-term liquidity and delay fundraising plans. Trading volumes spiked as investors booked profits following recent rallies. Brokerage firms revised their outlook to ‘neutral,’ emphasizing that financial stability will hinge on tariff hikes and equity infusion progress.