Vodafone Idea share price today
.Vodafone Idea (Vi) share price gained 4 per cent to ₹11.62 on the BSE in Monday’s intraday trade, amid heavy volumes, after promoter Kumar Mangalam Birla bought additional 40.9 million equity shares of the company via open market.
At 11:49 AM, Vi stock was quoting 3.8 per cent higher at ₹11.55, as compared to 0.53 per cent rise in the BSE Sensex. Nearly 380 million equity shares have together changed hands on the NSE and BSE so far in the session. The stock price of the telecom services provider had hit a 52-week high of ₹12.80 on December 31, 2025.
Kumar Mangalam Birla buys 40.9 million shares of Vi via open market
According to stock exchange disclosure made by Vi, the company’s promoter Kumar Mangalam Birla bought a total of 40.9 million shares, representing 0.04 per cent stake in the company, for ₹45.18 crore between January 30 and February 1 from open market.
As of December 31, 2025, Kumar Mangalam Birla held 19.46 million shares, or 0.02 per cent stake in Vi. Total promoters holding, meanwhile, stood at 25.57 per cent in Vi at that time, shareholding pattern data shows.
CARE Ratings on Vi
CARE Ratings (CareEdge Ratings) has revised its outlook on ‘long-term bank facilities’ of Vi from “Stable” to “Positive” while re-affirming its rating at ‘CARE BBB-‘.
The revision in ratings follows the announcement on adjusted gross revenue (AGR) relief by Department of Telecommunication (DoT), which strengthens VIL’s long-term debt tie-up prospects in accelerating network capex investments, thus enabling improvement in its operating performance.
Government of India’s decision, the rating agency said, to defer payment of AGR dues by an additional 10 years, without interest accrual on the frozen amount of ₹87,695 crore, has eased near-term liquidity pressure.
“The previous regulatory support measures encompassing the conversion of spectrum dues aggregating ₹36,950 crore into equity in March 2025, combined with the recent AGR relief, underscore the strategic importance of the telecom sector and Vi, in particular, for GoI and the philosophy of promoting healthy competition. Post conversion of spectrum dues, GoI holds a 49 per cent stake in Vi as on December 31, 2025, while operational control continues to rest with promoters- Vodafone Group Plc (VGP) and Aditya Birla Group (ABG),” it said.
With improved funding visibility, CARE Ratings added, Vi plans to undertake capex investments, with total outlay of ~₹45,000 crore over FY27-FY29. Timely scaling up of the capex programme remains critical for improving network competitiveness, growing subscriber base, and supporting average revenue per user (Arpu) expansion.
Going forward, achieving envisaged growth in subscriber base on sustained basis is a key rating sensitivity, the rating agency said in its rationale.
Meanwhile, domestic brokerage Emkay Global Financial Services has upgraded Vi stock to ‘Add’ from ‘Sell’ and has doubled its share price target to ₹12 from ₹6 as it believes the government’s decision to provide a major moratorium for Vi’s AGR liabilities, with minimal annual payments until FY35, will provide significant cash flow relief and a turnaround opportunity.
“The relief reduces the net present value (NPV) of the burden by 60-80 per cent, easing immediate survival pressure, along with the possibility of further reduction on reassessment of AGR dues. This will enable Vi to access bank funding for 4G/5G expansion, helping the company arrest subscriber churn and market-share loss. We raise our target to ₹12 (from ₹6),” it said in a report.
Continued migration to data, rising usage, and tariff repair provide scope for Arpu-led Ebitda expansion even without aggressive subscriber additions, Emkay Global said. Factoring in these changes, the brokerage has raised its FY27/FY28 revenue estimates by 5 per cent/4.9 per cent and Ebitda estimates by 5.4 per cent/4.2 per cent.
“While the long-term sustainability of the company is no more a concern, we believe that Vi will have to execute well to gain subscriber market share and migrate the subscriber base from 2G to 4G/5G,” it said, valuing the stock at 12.5x/11.5x FY27/FY28 EV/Ebitda.
Inability to increase subscriber market share; significantly increase Arpu with tariff repair, and upgrade the subscriber base from 2G to 4G/5G will remain key risks/monitorales for the Vodafone Idea, it added.
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