Vodafone Idea shares plunged 9% today; stock price targets ahead of Q2 results
Shares of Vodafone Idea Ltd plunged 9 per cent in Monday’s trade amid reports the Department of Telecommunications (DoT) issued a notice to the company regarding the non-payment of bank guarantees required to cover past spectrum auction dues. The scrip also fell amid across-the-board selling in the broader market, ahead of the kick start of the September quarter (Q2) earnings season.
As per media reports, the latest notice was issued after the JV between the Vodafone Group and Aditya Birla Group failed to submit bank guarantees on time for past spectrum dues for auctions conducted before 2022. Business Today could not independently verify the reports.
On Monday, Vodafone Idea shares plummeted 9.08 per cent to hit a low of Rs 8.91 on…
