Shares of telecom company Vodafone Idea crashed on Friday. Shares of Vodafone Idea fell by more than 13 percent to Rs 12.91. The company’s shares closed at Rs 15.09 on Thursday. Market experts say that Vodafone Idea shares may see a sharp decline. Global brokerage house Goldman Sachs has advised to sell Vodafone Idea shares. The brokerage house has maintained a sell rating for the telecom company’s shares.
Vodafone Idea shares can go up to Rs 2.50
Global brokerage house Goldman Sachs has given a target price of Rs 2.50 for Vodafone Idea shares. That is, Vodafone Idea shares may see a decline of more than 80 percent from Thursday’s closing level. The brokerage house believes that the capital recently raised by the company will not be enough to stop its declining market share. The foreign brokerage house estimates that the company’s market share may see an additional decline of 300 basis points in the next 3-4 years.
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The company’s shares have increased by more than 150% in 5 years
Vodafone Idea shares have gained more than 150% in the last 5 years. The company’s shares were at Rs 5.18 on 6 September 2019. The telecom company’s shares have reached Rs 12.91 on 6 September 2024. Vodafone Idea shares have seen a jump of 25% in the last one year. The company’s shares were at Rs 10.65 on 6 September 2023. Vodafone Idea shares have reached Rs 12.91 on 6 September 2024. The 52-week high level of the company’s shares is Rs 19.15. At the same time, the 52-week low level of the company’s shares is Rs 9.55.
Orders worth more than Rs 1000 crore received, shares of infra company surged
