Vodafone idea share price: Veteran businessman Kumar Mangalam Birla has bought 1.86 crore shares of Vodafone Idea on September 6. Apart from this, another investor has also bet on Vodafone Idea shares. According to official data related to investment in telecom sector giant Vodafone-Idea, apart from Kumar Mangalam Birla, Pilani Investment has bought 30 lakh shares.
Goldman Sachs’ target
September 6 is the day when brokerage firm Goldman Sachs gave a “sell” rating to Vodafone Idea stock. The brokerage projected a target price of ₹2.5 on the stock. Following this, Vodafone Idea shares fell by over 11%. Foreign brokerages have projected an additional 300 basis points decline in Vodafone Idea’s market share over the next 3-4 years. Additionally, the company has significant adjusted gross revenue (AGR) and spectrum-related payments to make.
share status
Vodafone Idea shares are currently trading at ₹ 13.50, up 2.5%. On June 28, 2024, the share price reached Rs 19.15. This is also the 52-week high of the stock. In September 2023, the share price came down to Rs 10.31. This is the 52-week low level of the stock.
The company is in loss
Debt-ridden Vodafone Idea’s loss in the first quarter of the current financial year has come down to Rs 6,432.1 crore. The company’s loss has come down due to the increase in the number of 4G customers. In the June quarter, the company’s revenue fell by 1.3 percent year-on-year to Rs 10,508.3 crore. There are also reports that the government has sought suggestions from some government funds to possibly sell its stake in the telecom company. However, the company had said that the government has to take a decision on this.
