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Vodafone Idea shares up 3% in trade; what is driving investor interest?
Vodafone Idea (Vi) shares advanced 3.3 per cent in trade on Wednesday, logging an intraday high at ₹7.1 per share on BSE. At 10:36 AM, Vodafone Idea share price was trading 2.91 per cent higher at ₹7.07 per share on the BSE. In comparison, the BSE Sensex was up 0.7 per cent at 82,630.49.
The company's market capitalisation stood at ₹ 76,598.53 crore. Its 52-week high was at ₹19.15 per share and 52-week low was at ₹6.3 per share.
Vodafone Idea's clarification
The company has informed investors that a report about the government considering relief on ₹84,000 crore dues of Vi was doing rounds. In reference to this, the company clarified through its exchange filing that it has not received any communication from the government.
"We have not received any communication from the Government in relation to the above-reported matter. As and when there is any development which requires disclosure, we will do the needful," the filing read.
The Supreme Court (SC) recently, dismissed petitions by Bharti Airtel, Vodafone Idea, and Tata Teleservices seeking waivers on interest, penalties, and interest on penalties related to adjusted gross revenue (AGR) dues.
A bench of Justices JB Pardiwala and R Mahadevan described the petitions as "misconceived" and criticised the companies for approaching the court.
The ruling came a day after Vodafone Idea filed a plea seeking relief from AGR liabilities exceeding ₹45,000 crore, citing financial distress. Reports had suggested that Vodafone Idea had warned that it may not be able to sustain operations beyond FY26 without additional state assistance. ALSO READ |
Brokerage view on Vodafone Idea Share:
Post the rejection, domestic brokerage Motilal Oswal reiterated its 'Sell' rating for a target of ₹6.5 per share. The brokerage had noted that Vi continued to lose market share to peers due to lower Average Revenue Per User (ARPU) translation, given its inferior subscriber mix and elevated subscriber churn.Further, analysts at Motilal believed the company's network investments remain contingent on debt raise, which, in turn, is dependent on continued support/AGR relief from government (₹20,000 crore+ annual cash shortfall over FY26-31E.
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