Vodafone Idea shares inched closer to the ₹10 mark after rising around 4% on today’s trading session. The slight surge was witnessed after global brokerage firm Citi has turned upbeat on telecom operator Vodafone Idea (VI), raising its price target from Rs 10 to Rs 14 — an upside potential of nearly 49 per cent from current levels. The brokerage maintained its ‘Buy/High-risk’ rating, calling the stock a high-risk, high-reward bet following the Supreme Court’s recent ruling on the Adjusted Gross Revenue (AGR) matter.Citi noted that the top court’s decision to allow the recalculation of AGR dues has opened a significant window of opportunity for Vodafone Idea. The move could enable the government to reassess outstanding liabilities, potentially easing the company’s financial burden.
According to Citi, this legal relief strengthens the possibility of government support and could pave the way for smoother debt restructuring — a key step in restoring the company’s balance sheet and operational stability.Vodafone Idea’s total debt stands at roughly Rs 2 lakh crore, including Rs 1.2 lakh crore of spectrum liabilities and Rs 83,400 crore in AGR dues. Citi expects the company to complete a Rs 50,000–55,000 crore Capex programme over the next three years to accelerate 4G and 5G expansion.It forecasts a 3–5 per cent EBITDA growth between FY26 and FY28 and anticipates a reduction in net losses by FY27.Analysts believe several near-term developments could trigger a sharp move in the stock.
Over the last five years, VI shares have given stock market investors more than 9% returns on their investment, and gained more than 15% in the last one-year period.On a year-to-date (YTD) basis, the company's shares have risen 17.10% in 2025, and are up 10.47% in the last one-month period. Vodafone Idea shares are trading 5.87% higher in the last five market sessions on the Indian stock market. Meanwhile, the board of directors, on Wednesday, 5 November 2025, disclosed that the company has finalised the date to hold its quarterly meeting for the second quarter of the financial year ending 2025-26 on Monday, 10 November 2025.The telecom company will also disclose its July to September quarter results for the 2025-26 fiscal year on the same day next week.