Vodafone Idea Shares Recover After Supreme Court Ruling, Target Price Set at ₹15
Nuvama projects ₹224 billion in EBITDA for FY26, which will help cover government dues.
The image features Vodafone Idea's logo.
Vodafone Idea shares fell to a 52-week low of ₹9.79 after the Supreme Court dismissed its AGR dues petition. However, the stock later recovered to ₹10.52, marking a 7.5% rise.
Brokerage Nuvama pointed out that the market hadn’t anticipated any positive impact from the ruling, suggesting a potential price recovery to ₹15 in the medium to long term, supported by the Government of India.
Nuvama projects ₹224 billion in EBITDA for FY26, which will help cover government dues.
They expect further EBITDA growth in FY27, despite increasing obligations.
With the AGR issue now resolved, Nuvama sees improved clarity for Vodafone Idea’s future.
They anticipate a 15% CAGR in EBITDA from FY24 to FY27 and recommend buying the stock, viewing the recent dip as an opportunity.
Their target price is ₹15, suggesting over 40% upside from the current price.
