Telecom operator Vodafone Idea today found another backer when global broking firm UBS upgraded the stock to buy with a target price of Rs 18, saying that it is expecting relief on government dues as well as a mobile price increase. Following the upgrade, the stock jumped over 5% to Rs 14.82. “We believe the … Read more
Vodafone Idea (Vi) CEO Akshaya said the telco is looking at further conversions of government dues into equity as well as internal accruals to address payout obligations toward spectrum and adjusted gross revenue (AGR). The moratorium on these payments ends in September 2025. The statement came during Vi’s FY24 fourth-quarter earnings call Friday. Moondra was … Read more
Equity indices shot up nearly 1% on Thursday in a highly volatile trade. The 30-share Sensex climbed 676 points to settle at 73,663 and the Nifty surged 203 points to 22,403. Stocks that were in focus include names like Tata Technologies, which closed flat, Apollo Tyres, which jumped 3.14%, and Vodafone Idea, whose shares fell … Read more
While calling Vodafone Idea a high-risk, high-reward opportunity, domestic brokerage Kotak Institutional Equities on Thursday maintained a sell call on the telecom operator but said that in the bull case scenario, it can rally up to Rs 23. “In our bull case, we assume a sharper 10% 10-year ARPU CAGR (versus our base case estimate … Read more
May 15, 2024, 06:16:38 PM IST Seven mutual funds added around 21 stocks to their portfolios in April, according to Mutual Fund Insight by Nuvama Alternative & Quantitative Research. Here is the list of stocks. iStock The fund house added Dr Lal Pathlabs (13.08 lakh shares), Vodafone Idea (17.29 crore shares), and Marico (19.79 lakh … Read more
BofA Securities raised share price targets on Indian telecom companies as it expects near-term momentum in the sector. The firm has upgraded its rating on Vodafone Idea from ‘Underperform’ to ‘Neutral’, and sees 9-16% upside in shares of Bharti Airtel, Indus Towers, and Reliance Industries. BofA said it expects a tariff hike of 20-25% as … Read more
Mahindra & Mahindra. Share Price 2156.35 03:59 PM | 30 Apr 2024 94.30(4.58%) Power Grid Corporation of India. Share Price 301.85 03:59 PM | 30 Apr 2024 8.16(2.78%) Shriram Finance. Share Price 2551.70 03:59 PM | 30 Apr 2024 59.50(2.39%) Hero MotoCorp. Share Price 4543.05 03:59 PM | 30 Apr 2024 85.36(1.92%) IndusInd Bank. Share … Read more
Mumbai: Shares offered in the Vodafone Idea follow on public offer (FPO) listed at ₹11.8 apiece on the NSE on Thursday, about 7.3% above the FPO price of ₹11. The shares were listed at ₹12 on BSE and closed at ₹13.8, after a gain of 5.3%. Thursday was also the day when the highest ever … Read more
Debt-ridden telecom operator Vodafone Idea, which completed its Rs 18,000 crore FPO successfully on Monday, has seen its retail shareholding growing by 55 lakh to 36.2 lakh in March quarter. The ownership of retail investors, defined as those with holdings of up to Rs 2 lakh in the stock, increased from 3.32% in December 2023 … Read more
Mumbai: Vodafone Idea’s ₹18,000 crore follow-on public offer (FPO), India’s biggest, closed successfully on Monday, having been subscribed 7 times, with strong demand from global institutional investors. The allotment for qualified institutional buyers (QIBs) was subscribed 19.3 times, of which 82% bids came from foreign institutional investors (FIIs). The non-institutional investor (NII) portion got bids … Read more
