Vodafone Idea shares surge nearly 3% as Q1 loss narrows
Nomura retains its ‘neutral’ rating with a target price of ₹12.60
Vodafone Idea shares experienced a nearly 3% increase on Tuesday following a narrowing of its net loss to ₹3,754 crore in Q1FY27. The stock traded at ₹13.09 on the NSE, up from ₹12.92 from the previous close. Nomura maintained a 'neutral' rating with a target price of ₹12.60, stating that the Q1 results were in line with expectations and highlighting the beginning of a three-year capex programme.
CLSA reported a 3% increase in Q1 revenue and 6% YoY growth, driven by mobile ARPU. This quarter marked the first with positive net subscriber additions since the merger. EBITDA also rose 3% q-o-q and 9% YoY to ₹5,030 crore. JP Morgan expressed that revenue and EBITDA exceeded estimates and consensus. CLSA retained a 'hold' rating with a target price of ₹13, noting the quarter was in line with estimates, while JP Morgan's stance remains 'underweight' with a target price of ₹9, emphasizing the lack of bank funding as a key concern for the stock's future.
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