Should you buy Vodafone Idea shares post Q2? Here's what brokerages say
The largecap telecom stock is down 62% from its 52-week high of ₹19.15 touched on June 28, 2024.
The largecap telecom stock is down 62% from its 52-week high of ₹19.15 touched on June 28, 2024.
Vi’s fundraising is vital as it will help the debt-ridden telecom company enhance its 4G network and initiate 5G operations.
The deal is the first step towards Vi's three-year capex plan of $6.6 billion and is aimed at expanding Vi's 4G population coverage from 1.03 bn to 1.2 bn
Following the Supreme Court’s dismissal, Vodafone-Idea shares plummeted nearly 20% to a 52-week low of ₹10.36 from ₹12.90.
Kumar Mangalam Birla, the chairman of the Aditya Birla Group, picked up an additional 1.86 crore shares in Vi on September 6.
Vi’s recent capital raise, while incrementally positive, is unlikely to be adequate to stop the company’s market share erosion, says Goldman Sachs.
India’s weightage in the MSCI EM Index has surged from around 8% in 2020 to record 20% today, and is expected to touch 22% by year-end, says Nuvama.
This was driven by a modest 3% year-on-year growth in its 4G subscriber base, which increased to 12.67 crore last quarter from 12.29 crore in Q1 FY24.
Vodafone Idea informed about the shareholders’ nod to issue preferential shares to Nokia & Ericsson worth ₹2,458 cr & conversion of ₹160 cr worth optionally converted debentures issued to ATC Telecom.
Bharti Airtel emerged as the biggest bidder by securing 69% of the total MHz on offer, followed by VIL at 21%, and RJio at 10%.