Vodafone Idea shares: Geojit cuts stock price target by 49%, says this
Geojit Financial Services has cut its target price for Vodafone Idea Ltd to Rs 8.60 against its earlier target price of Rs 17 set in August this year. The target price still suggests a 10 per cent upside over Tuesday’s closing price of Rs 7.80 apiece.
While the recent hike in tariffs increased Vodafone Idea’s average revenue per user (ARPUs), revenue rose only marginally. Vodafone Idea expects the impact of the tariff increase to continue to be seen in ARPU and revenue for the next two quarters, Geojit noted.
“However, it expects the subscriber base to grow with the expansion of its 4G coverage and roll-out of 5G in key geographies Q4FY25 onwards. Further, its fund-raising proposal through the issuance of equity share or convertible…
