Vodafone Idea shares jump 4% after Kumar Mangalam Birla ups stake via open market

Shares of Vodafone Idea (Vi) climbed nearly 4 per cent in Monday’s intra-day trade after promoter Kumar Mangalam Birla bought additional shares of the telecom operator through the open market, signalling renewed promoter confidence amid easing regulatory pressure.

The Vi stock rose as much as 4 per cent to Rs 11.62 on the BSE during the session. At 13.39 am, it was trading 4.14 per cent higher at Rs 11.58, outperforming the benchmark BSE Sensex, which was up 0.53 per cent. The counter witnessed heavy trading volumes, with nearly 380 million equity shares changing hands across the NSE and BSE so far.

The stock remains below its 52-week high of Rs 12.80 touched on December 31, 2025.

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Birla buys shares from open market

According to disclosures made to stock exchanges, Kumar Mangalam Birla acquired a total of 40.9 million equity shares of Vodafone Idea, representing a 0.04 per cent stake in the company, for Rs 45.18 crore between January 30 and February 1 through open market transactions.

Birla purchased 22.1 million shares on January 30 at an average price of Rs 10.95 per share, followed by another 18.8 million shares on February 1 at an average price of Rs 11.13 per share.

As of December 31, 2025, Birla held 19.46 million shares, or a 0.02 per cent stake, in Vodafone Idea. Overall promoter holding in the company stood at 25.57 per cent at the end of the December quarter, according to shareholding pattern data.

Market participants said the fresh purchases by the promoter helped lift sentiment around the stock, which has been under pressure in recent years due to weak financials and regulatory dues.

Vodafone Idea Q3FY26 result highlights

Vodafone Idea announced its Q3FY26 results on January 27 . The telecom company reported consolidated revenue of Rs 11,209 crore for Q3FY26 which came in slightly above Zee Business’s estimate of Rs 11,195 crore. EBITDA stood at Rs 4,710 crore, beating the expected Rs 4,685 crore, while margins improved to 42 per cent from the estimated 41.8 per cent.

However, the company’s net loss widened to Rs 6,333 crore, higher than the projected Rs 5,524 crore. ARPU rose to Rs 169, up from Rs 167 expected, marking a modest 1.2 per cent improvement sequentially. Revenue was largely flat, up just 0.1 per cent quarter-on-quarter. EBITDA grew 0.5 per cent sequentially, driven by cost control and better operating leverage. Analysts said the 42 per cent margin reflects efficiency gains despite high network and spectrum costs.

The wider loss was driven by higher depreciation and finance charges, along with ongoing legacy obligations. While ARPU is trending up, analysts caution that financial obligations continue to restrict profit growth.

Ratings outlook turns positive

Adding to the positive sentiment, CARE Ratings (CareEdge Ratings) recently revised its outlook on Vodafone Idea’s long-term bank facilities from “Stable” to “Positive”, while reaffirming the rating at ‘CARE BBB-’.

The revision follows the Department of Telecommunications’ announcement granting relief on adjusted gross revenue (AGR) dues, which is expected to strengthen the company’s long-term debt tie-up prospects and support accelerated network capital expenditure, the rating agency said.