Vodafone Idea jumps 6% on talk of ₹16,000cr government relief
Vodafone Idea's stock just jumped 6%, hitting ₹11.08—a level not seen since last year.
The buzz is all about improved performance and talk of a possible ₹16,000 crore government relief package.
Investors are also noticing the company's shrinking losses and rising revenues, thanks to more users spending a bit extra each month.
The numbers are looking better for the company
For anyone watching India's telecom scene, Vodafone Idea has been struggling for a while, so this turnaround is big news.
Their quarterly loss dropped to ₹5,524 crore (from over ₹7,000 crore last year), revenue went up slightly to ₹11,195 crore.
Brokerages have raised their price targets for the stock
A recent Supreme Court decision lets the government rethink how much Vodafone Idea owes in AGR dues.
That opens the door for major financial relief—and brokerages like JM Financial have raised their price target to ₹11, while Citi has set a more bullish target of ₹14.
With strong trading momentum right now, Vodafone Idea suddenly feels back in the game.