Mumbai: Goldman Sachs has reiterated Sell rating on Vodafone Idea share. The global brokerage suggested a share price target of Rs 2.40, indicating a downfall of 66 per cent from the current price. The telecom stock closed at Rs 7.10 apiece. Earlier, the brokerage had given the target price of Rs 2.2-2.5 for the beleaguered Voda stock. However, another brokerage firm, Nomura India, has advised people to buy the telecom stock with a price target of Rs 14.
The latest downgrade comes after Vodafone Idea posted weaker-than-expected second quarter results for 2024-25. In its July-September quarter results, the debt-ridden telecom firm reported its consolidated loss lowering to Rs 7,175.9 crore due to increase in average revenue per user (ARPU) post-tariff hike in July.
Despite tariff hike resulting in the company losing its customers, Vodafone Idea CEO Akshya Moondra Hinted at another hike to cover the cost of capital.
Meanwhile, another global brokerage firm Nomura India reiterated its ‘Buy’ rating on Vodafone Idea with a target price of Rs 14. This target price indicates a potential rise of around 90 per cent from the stock’s current price.
Vodafone Idea Q2 Results 2024-25
In its regulatory viking, Vodafone India, mentioned that it finalised a deal of about USD 3.6 billion (approximately Rs 30,000 crore), with Nokia, Ericsson, and Samsung. The telecom firm will supply network equipment to the mentioned companies over a period of three years.
In its regulatory filing, the company mentioned its consolidated revenue from services increased 1.8 per cent to Rs 10,918.1 crore during the Q2 of 2024-25,. It was Rs 10,714.6 crore in the second quarter of the current fiscal year.
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Goldman Sachs has projected Vodafone Idea share price to decline 66 per cent from the current levels. The debt-ridden telecom company delivered weaker than expected Q2 Results 2024-25. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
