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Vodafone Idea Share: Shares of Vodafone Idea witnessed a massive fall on Friday (September 6). The stock was down 14.44% from yesterday's close. Yesterday it closed at Rs. 15.09 and today it hit an intraday low of Rs. 12.91. Shares of telecom stock Vodafone Idea witnessed a massive fall on Friday (September 6). The stock was down 14.44% from yesterday's close. Yesterday it closed at Rs. 15.09 and today it hit an intraday low of Rs. 12.91. The lower price band of the stock is Rs. 12.83. Around 11:40 pm, the stock fell 10.54% to Rs. 13.50.
Why did Vodafone Idea share price fall?
Actually, a big report has come from brokerage firm Goldman Sachs on Vodafone Idea, in which the company has maintained a sell rating on the stock. However, the interesting thing is that here the target price on the stock has been increased, but the target price of the firm is Rs. 2.2, which has now been increased to Rs. 2.5 per share, but this target is a downside target of 83%. compared to the previous closing price.
On Vodafone Idea, the brokerage firm said that there is uncertainty in the company's free cash flow breakeven and market share recovery. Free cash flow will remain negative till FY 2031. Market share will decline by another 300 bps in the next 3-4 years. If AGR falls to 65%, the stock will reach new highs. The implied value of the shares is Rs. 19. The company said that even based on the recent funding raised by Vodafone Idea, the company does not seem to be able to save its declining market share.
