Vodafone Idea jumps past FPO price, hits 15-month high—Time to buy, sell or hold?

Vodafone Idea Share Price: Shares of Vodafone Idea Ltd. extended their recent gains on Thursday, rising more than 4 per cent and holding comfortably above the Rs 11 Follow-on Public Offer (FPO) price. The stock has now advanced in six of the past eight sessions and is trading at its highest level since September 2024.

The rally comes on the back of strong trading interest. Nearly 90 crore shares had changed hands by noon—well above the 20-day average volume of 70 crore—signalling renewed speculative appetite in the debt-burdened telecom operator.

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Sentiment has been improving over the past few weeks, fuelled by expectations of some relief on the long-pending AGR dues. While there is still no formal clarity from the government, investor hopes have kept the stock afloat. The Centre has repeatedly maintained that it will not raise its stake beyond the existing 49 per cent.

Brokerage views on Vodafone Idea: Should you buy, sell or hold?

Brokerage commentary remains mixed. CLSA, in its latest note, highlighted that Vodafone Idea has expanded its 5G rollout across 17 circles where it owns spectrum, marking incremental progress on its delayed network upgrade. However, analysts continue to flag persistent subscriber losses as a major hurdle in the company’s long-term viability.

HSBC, in a sector-wide update on December 5, reiterated its "reduce" rating on Vodafone Idea and retained a target price of Rs 5.8, implying downside of nearly 50 per cent from current levels. The brokerage said subscriber churn and weak financial visibility remain key concerns.

Vodafone Idea shares last traded 4 per cent higher, extending a slow yet steady recovery from the lows of mid-2024, even as the broader market awaits a definitive resolution on the AGR liability overhang.