Vodafone Idea shares rally over 100% after government AGR cut
Business
Vodafone Idea's shares have soared over 100% in the last year, hitting ₹14.06 on Monday, their highest since 2024.
The rally comes after the government cut the company's AGR dues by almost 27%, and the stock has been on a roll lately, jumping 47% in the past month.
Vodafone Idea posts ₹51,970cr profit
The company swung from a big loss to a ₹51,970 crore profit last quarter, thanks mostly to a one-time AGR gain.
Revenue is up 3%, and average revenue per user climbed to ₹190.
Investors are also feeling more upbeat with Kumar Mangalam Birla returning as nonexecutive chairman, plus technical analysts see strong support for the stock ahead.