Vodafone Idea share price:- telecom stock experiencing a steeler belly on Tuesday November 26 news reports that the union cabinet has approved the weaving of bank guarantee for telecom operators on purchase before 2022.
The moon has come as a relief to Vodafone Idea which on the government over 24 700 crore on Bank guarantees as per money control report.
Domestic telecom operator including bharti airtel and Vodafone Idea collectively hold more than 30 crore in BG obligation, the report added.
The decision follows the 2021 Cabinet reforms which eliminates the requirements for bank guarantee on future.
The report further said that by extending this relief to older spectrum holding as well, the government aims to reduce financial stress in the telecom sector.
Share of Vodafone Idea 2024
Vodafone Idea (VI ) rose 18.08% to rs 8.23 on the BSE in early trade on Tuesday after the Union Cabinet gave in principle approval for the telecom company bank guarantee issue.
Target price of Vodafone Idea
- From a fundamental analysis perspective the company has a ROE of 7.30 % of ROA of 5.36 % .
- The current P.E of any stock is 43.08 & P/B is at 2.61 .
- The median 1 year forecasted upside in this share is at 6.03% with a target price of 458 crore .
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