Vodafone Idea share price can be bullish till Rs 23.17, keep an eye on the level of 14.10.
Vodafone Idea’s share price has shown some fluctuations and significant developments that investors should closely monitor. The current share price stands at ₹13.53, reflecting a 2.67% increase from the previous close of ₹13.14. However, the stock has faced considerable challenges recently, including a notable decline of 16% over the past month and 20% year-to-date, driven by a negative outlook from Goldman Sachs, which set a target price of just ₹2.50, suggesting a potential downside of 83%.
Main Points
- 1 Current Vodafone Idea Share Price and Market Performance
- 2 Key Financial Metrics
- 3 Analyst Insights and Recommendations of Vodafone Idea Share Price
- 4 Support and Resistance Levels of Vodafone Idea Share Price
- 5 Expert Opinions of Vodafone Idea Share Price
- 6 Recent Developments and Future Outlook of Vodafone Idea Share Price
- 7 Market Sentiment of Vodafone Idea Share Price
Vodafone Idea’s stock has been volatile, with a recent peak of ₹19.18 and a low of ₹10.30 over the past year. The company’s market capitalization currently stands at approximately ₹89,600 crore. Despite a recent uptick, the stock’s performance over the last three months has seen a decline of about 17.89%.
Key Financial Metrics
- Current Share Price: ₹13.53
- Market Capitalization: ₹89,600 crore
- 52-Week High/Low: ₹19.18 / ₹10.30
- P/E Ratio: -3.14
- EPS: -4.28
The company has reported a significant loss of ₹6,432.1 crore for the last quarter, marking the fourth consecutive quarter of losses. This has raised concerns about its financial health, especially given that 60.41% of its operating revenues are spent on interest expenses.
Analysts suggest that Vodafone Idea is currently consolidating in a price range between ₹11.80 and ₹19. This consolidation follows a substantial appreciation in stock price from ₹6 to ₹18 earlier this year. However, the recent downturn has weakened this structure, and if the stock falls below ₹11.80, it could potentially drop to single-digit levels. On the upside, immediate resistance is noted around ₹15.60 to ₹16.00.
- Support Level: ₹11.80
- Resistance Levels: ₹15.60 – ₹16.00
Chandan Taparia from Motilal Oswal suggests that the stock’s overall structure appears weak in a broader time frame. He emphasizes the importance of the ₹11.80 support level, indicating that a breakdown could lead to further declines. Jatin Gedia from Sharekhan echoes this sentiment, noting that the stock has been facing consolidation pressures but may see a short-term bounce if it holds above the critical support level.
Vodafone Idea has been in the news for various reasons, including its attempts to raise capital through a follow-on public offer, which amounted to ₹20,100 crore. Despite these efforts, the company has struggled to maintain its revenue market share, losing about 500 basis points over the past three years. This decline in market share is particularly concerning as the company competes with stronger players in the telecom sector.
Investor sentiment remains cautious as the stock continues to face downward pressure. The recent negative outlook from Goldman Sachs has further fueled concerns, leading to a sell-off among investors. The company’s financial struggles and reliance on external funding raise questions about its long-term viability in a competitive market.
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
