Shares of Vodafone Idea Ltd witnessed a decline ahead of the crucial meeting of the Cabinet of Secretaries today at 3pm with senior officials from the Finance Ministry and the Department of Telecommunications to deliberate on Vodafone Idea’s adjusted gross revenue dues and a fresh proposal for relief following the Supreme Court order that came last month. Vodafone Idea share price has rallied 9% in one month and has jumped by 58% in three months. The telecom stock has rallied 30% on a year-to-date (YTD) basis, while it has gained 26% in one year. Vodafone Idea share price has risen 25% in the past three years. The company's stock surged more than 4% on Wednesday amid speculation of possible relief on adjusted gross revenue dues by year-end. At 1pm the stock was trading at Rs.10.50
This development comes amid heightened speculation over potential government intervention to ease Vodafone Idea’s financial burden. On Tuesday, reports suggested that Telecom Minister Jyotiraditya Scindia indicated the Centre may finalise relief recommendations by year-end, provided the company submits a formal request. The company, however, clarified in an exchange filing that it has already addressed the AGR matter in previous disclosures and will update exchanges only if there are further developments.A few analysts remained cautiously optimistic on the stock's technical outlook."The stock has been hovering above the short-term EMAs with positive bias and favourable technical cues. On levels front, Rs 9.50-9 is likely to cushion any shortcomings, with strong support placed around Rs 8 (200 DSMA). On the higher end, a sustained move above Rs 11 could pave way for the next leg of rally in the upcoming period.
Ravi Singh, Chief Research Officer at Mastertrust, said the stock may move towards Rs 11.50, advising investors to keep a stop loss at Rs 10 to manage near-term volatility.On the operational front, the company narrowed its consolidated net loss to Rs 5,524.2 crore in the July–September quarter (Q2 FY26), compared with Rs 7,175.9 crore in the year-ago period. Quarterly revenue rose 2.4 per cent year-on-year (YoY) to Rs 11,190 crore. EBITDA stood at Rs 4,690 crore. Voda Idea's capex was Rs 1,750 crore in the quarter and Rs 4,200 crore for the first half of FY26. As of September 30, 2025, debt from banks stood at Rs 1,530 crore, while cash and bank balances totalled Rs 3,080 crore.The company's average revenue per user (ARPU) increased to Rs 180 in Q2 FY26 from Rs 166 a year earlier, an 8.7 per cent rise, "supported primarily by customer upgrades and tariff increase". Its total subscriber base stood at 196.7 million, including 127.8 million 4G/5G users, up from 125.9 million in the corresponding quarter last year.