Vodafone Idea Share Price Update: 10 May 2024 ๐๐ฐ
Vodafone Idea is currently facing serious financial crisis. However, experts believe that there may be a recovery in the company’s shares. Brokerage firm Nuwama Securities has issued a ‘hold’ rating on Vodafone Idea shares.
According to analysts, Vodafone Idea shares are on the path of being a ‘going concern’. In other words, the company is working hard to stay afloat in the business. Vodafone Idea still has to come out of its financial crisis. Vodafone Idea’s share was trading at Rs 12.70 with a 0.39% decline on Thursday, May 9, 2024. On Friday, May 10, 2024, the share was trading at Rs 12.50 with a 0.95% decline.
Brokerage firm City has set a target price of Rs 15 for Vodafone Idea Limited shares. According to experts, in the coming days, the company’s shares could reach Rs 25. During Wednesday’s trading session, Vodafone Idea’s share was trading at Rs 12.71, up by 2%. In January 2024, the company’s shares were trading at Rs 18.42. Analysts believe that in the coming days, the company’s shares could touch the Rs 25 mark.
Vodafone Idea’s management board has decided to increase tariffs. According to analysts, there is a possibility of relief for Vodafone Idea in the AGR case from the Supreme Court. Telecom companies’ earnings through telecom services and other scheduled services are called AGR. Vodafone Idea recently completed a Rs 18,000 crore FPO.
The company will use the funds raised from this FPO to strengthen its position in the telecom market. Funding will help Vodafone Idea improve its 4G and 5G services. The company will spend some money to repay its debts.
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