Vodafone Idea's shares surged nearly 10% on January 1, driven by potential Adjusted Gross Revenue (AGR) relief and a Rs 5,836 crore payment from Vodafone Group. The Union Cabinet approved a 5-year moratorium on AGR dues, rescheduling payments from FY32-FY41. Despite this, Emkay Research maintains a 'Sell' rating, citing significant downside potential with a target price of Rs 6.