New Delhi: Telco Vodafone Idea’s share price tanked nearly 15 per cent on Thursday following the Supreme Court’s decision to reject a plea seeking a review of its AGR dues judgment. The company’s stock price was down 14.81 per cent to Rs 10.99 apiece at 2:01 pm on Thursday. The telco has witnessed a major cash crunch on account of the AGR dues demanded by the department of telecom, forcing the telco to keep its 5G rollout plans on hold.
The company, in which the Centre owns a 23 per cent stake, is also seeking a fundraiser to pay off its dues while also ramping up the rollout of newer services.
Vodafone Idea share price history
Vodafone Idea’s stock opened at Rs 12.98 apiece on Thursday, compared to Wednesday’s closing price of RS 12.91 apiece. The company’s stock touched a high of Rs 13.02 apiece and a 52-week low of Rs 10.33 apiece. Vodafone Idea’s market cap stood at Rs 74,055.86 crore at 2:08 pm on Thursday.
Vodafone Idea’s share price was down 19.66 per cent in the past 5 days.
The company’s stock value plunged 31.85 per cent in the past month.
The company’s stock value was down 15.18 per cent in the past 6 months.
Vodafone Idea’s share price slipped 0.91 per cent in the past year.
Vodafone Idea share price target
Vodafone Idea’s share price tanked nearly 10 per cent earlier this month after Goldman Sachs slashed the company’s share price target citing a slim chance of relief in the repayment of AGR dues. Goldman Sachs projected a 300 basis points decline for Vi’s market share over the next 3-4 years.
However, US brokerage Citi remained bullish on the telco and maintained a BUY rating on the company’s stock with a share target price of Rs 22 apiece. also calling it a “high risk, high return stock”.
Vodafone Idea share price: The telco’s stock price plunged over 15 per cent on Thursday after the Supreme Court rejected a plea seeking review of its AGR dues verdict. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
