Vodafone Idea News: Share Price Target 2024 - Stock DOWN after FPO listing; BUY, SELL or HOLD?
vodafone idea news: share price target 2024 – stock down after fpo listing; buy, sell or hold?
Vodafone Idea Share Price Target: Vodafone Idea’s stock has given solid returns in the past one year. Brokerage firm Nuvama Wealth has expressed its view on the company’s stock and has given the stock a HOLD rating. The telecom sector company’s stock closed in the green around Rs 14.01 up by 0.86 per cent on April 26.
Vodafone Idea FPO
The telecom services company informed the bourses that as a part of its FPO the company has approved the allotment of 16,36,36,36,363 Equity Shares of face value Rs 10/- each at the Offer price of Rs 11/- per Equity Share. The Offer opened for the public on April 18 and closed on April 22.
“We wish to inform you that pursuant to the approval accorded by the board of directors of the Company (the “Board”), at its meeting held on February 27, 2024 and the special resolution passed on April 2, 2024 by the members of the Company, the Capital Raising Committee of the Board (“Capital Raising Committee”) has, at its meeting held today i.e. 23 April 2024, approved the allotment of 16,36,36,36,363 Equity Shares of face value ₹10/- each at the Offer price of ₹11/- per Equity Share (including a premium of ₹1 per Equity Share), aggregating to ₹179,99,99,99,993/- (Rupees Seventeen Thousand Nine Hundred and Ninety Nine crore Ninety Nine Lacs Ninety Nine Thousand Nine Hundred and Ninety Three only) pursuant to the Offer in accordance with provisions of SEBI ICDR Regulations,” the company said via a regulatory filing.
Vodafone Idea Share Price Target 2025: Know what Brokerage firm Nuvama Wealth said
- Brokerage firm Nuvama has upgraded Vodafone Idea’s target price to Rs 14 from Rs 7.
- The brokerage has suggested that existing shareholders ‘Hold’ the stock.
- The brokerage has added that Vodafone Idea’s ‘big problem’, even after its FPO and tariff hikes, is its stretched balance sheet laden with liabilities of Rs 2.5 lakh crore and Rs 2.1 lakh crore being spectrum and AGR liabilities.
“Hence, it needs some sort of waiver on these liabilities. Even if it gets some waiver, it would need to compete with two large, well-established players in the sector with deep pockets and in much better financial and operational condition. Hence, the journey for Vodafone Idea, from a ‘going concern’ to an ‘investible idea’ is still some distance away in our opinion,” Nuvama said.
Vodafone Idea Share Price History
Vodafone Idea’ stock is a constituent of the S&P BSE 200 index. According to BSE analytics, the company’s stock has tanked 17.54 per cent YTD. Vodafone Idea’s shares have traded northward by 30.57 per cent in six months. In one year the stock has given multibagger returns of 114.22 per cent. The company’s stock has a 52-week range of Rs 18.42 – 6.54 on BSE. The company has a market cap of Rs 93,143.32 crore, as on April 27, as per the BSE website.
Vodafone Idea Dividend History
A dividend is a reward that a company pays to its investors for their investment in the business. It is paid in cash from earnings. A dividend is always calculated and paid on the face value of each stock. The face value of the stock is Rs 10. The company has not paid a dividend since 2016, The company’s dividend payout in 2016, stood at 60 per cent or Re 0.6 per share and was declared in September.
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