Vodafone hits a new high

Vodafone Idea hit a new 52-week high today at Rs.14.29 while traded volume stood at 123.78 lakh shares versus a two-week average of 612.80 lakh, pointing to a steady bid rather than a broad-based chase.

The near-term trigger remains incremental signs of subscriber momentum, though the scale is still modest versus peers. As per the latest TRAI data, Vodafone Idea added 53,257 subscribers in April, following net additions of 1.03 lakh in March and 21,927 in February, three straight months of positive net adds after a long period of churn.

In the same month, Bharti Airtel added 34.82 lakh net new customers (31.39 lakh wireless and 3.43 lakh wireline), while Reliance Jio added 30.84 lakh (29.42 lakh wireless and 1.42 lakh wireline), underlining that Vi’s improvement is more about stabilisation at the margin than winning share outright.

Sentiment has also been helped by a credit rating upgrade to A- with a stable outlook, and the market’s focus is now shifting to whether planned capex of about Rs. 45,000 crore over FY27–FY29 translates into visible network gains across priority circles. Alongside the easing of AGR cash-flow stress after the dues reset (and minimal repayments till FY2035), sustained subscriber traction and ARPU trends remain the key bridge from “stabilising” to “turnaround” for the stock.

Mr SP Tulsian is of the opinion that with lots of positives on the counter, he expects support of Rs.14 to be maintained from hereon, with target of Rs. 20 expected, much ahead of this FY, may be in the year 2026 itself.