New Delhi: Vodafone Idea shares are creating a buzz in the Stock Market on Thursday. The trends showed that people are searching for information on Vodafone Idea stock. Speaking to News9, market expert Arun Mantri on Thursday advised investors to not opt for fresh buying of the stock of the debt-ridden telecom company.
Vodafone Idea share news
Mantri, the founder of Mantri Finmart, said investors already holding the stock in their portfolios should hold on to the ‘technically good’ scrip. He, however, advised the Stock Market enthusiasts to refrain from buying the stock at current levels.
The market expert suggested the shareholders set the Vodafone Idea share price target at Rs 18 to Rs 20. He recommended the Stop Loss to be maintained at Rs 13.
Vodafone Idea share price has been rallying since June 5, 2024 and was trading at Rs 15.20 at 11:26 am on June 6. The stock was in the Green after rating agency CARE Ratings upgraded the telecom company’s Long Term Bank Facilities to BB+ from B+, holding the outlook stable. It also upgraded the Short Term Bank Facilities to A4+ from A4.
Vodafone Idea Q4 Results 2024
The debt-ridden telecom operator raised Rs 18,000 crore in India’s largest ever follow-on offering (FPO). The issue was subscribed nearly seven times after institutional investors showed interest.
In its Q4 Results of 2024, Vodafone Idea reported that its losses widened to Rs 7,675 crore due to an increase in interest and financing cost, while its overall subscriber base shrunk. It has recorded a loss of Rs 6,419 crore in the year-ago period. The consolidated revenue of its operations remained almost flat at Rs 10,607 crore during the last quarter of the previous financial year. In its regulatory filing, the annual revenue from operations was reported to be marginally higher by 1.1 per cent to Rs 42,651.7 crore from Rs 42,177.2 crore in 2022-23.
(Disclaimer: Arun Mantri is a SEBI registered investment advisor. This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Vodafone Idea share price news: Stock Market expert Arun Mantri on Thursday advised the investors to not go for fresh buying. He said the existing Vodafone shareholders should keep the stock in their portfolio with a target price of Rs 18-20. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
