Last month, Vodafone Idea hiked tariffs to improve its financials. But analysts continue to be wary of the telecom player. What is worrying them? What is the road ahead for the stock? Let's find out
India’s third largest telecom player, Vodafone Idea, has been in the news for quite some time now, for all the right reasons.
Starting from the government’s relief package in September to tariff hikes in November, the debt-laden telco seems to be getting its act together.
Now, according to a Business Standard report, the company has managed to raise funds for interest payment to its bondholders due on December 13.
Reacting to the report, shares of the company zoomed 16.5 per cent intra-day to hit a fresh 52-week high of Rs 16.6 per share. This was also the share’s highest level since May 2019.
So, do these developments signal at a change of fate for Vodafone Idea? Not really, feel analysts.
According to Balaji Subramanian, telecom sector expert at...read more