Vodafone Idea shares surge 6% as brokerages remain cautious despite quarterly beat

The stock touched a 52-week high of ₹10.57 on October 27, 2025. 
| Photo Credit:
REUTERS/ANUSHREE FADNAVIS

Vodafone Idea shares jumped 6.11 per cent to ₹10.08 in Tuesday’s session, with heavy trading volumes of 95.24 crore shares worth ₹943.85 crore, following the telco’s second-quarter results announced after Monday’s close. The stock touched a 52-week high of ₹10.57 on October 27, 2025.

Brokerages offered mixed views on the stock’s prospects. Citi maintained a ‘Buy’ rating with a target price of ₹14 per share, while UBS stayed ‘Neutral’ with a more conservative ₹9.7 target. Motilal Oswal also maintained a ‘Neutral’ stance, noting the results were slightly ahead of estimates driven by better enterprise revenue.

Vodafone Idea reported revenue of ₹111.9 billion for Q2FY26, up 1.6 per cent quarter-on-quarter and 2.4 per cent year-on-year. Reported EBITDA came in at ₹46.9 billion, approximately 2 per cent above analyst estimates, with margins stable at 41.8 per cent. The company’s losses narrowed to ₹55 billion from ₹66 billion in the previous quarter, primarily due to lower interest costs.

The telco’s customer ARPU rose to ₹180, up 8.7 per cent year-on-year, supported by subscriber upgrades and tariff increases. However, its subscriber base declined to 196.7 million. The company expanded 5G services to 29 cities across 17 priority circles and improved 4G population coverage to 84 per cent. Net debt stood at ₹1,999 billion, with government dues of ₹2,014 billion for spectrum and AGR obligations.

Published on November 11, 2025