- By Aditya Pratap Singh
- Fri, 24 May 2024 10:52 AM (IST)
- Source:JND
Vodafone Idea shares surged over 7 percent in early trade after foreign brokerage house 'UBS' upgraded its rating on the stock to 'buy'. The company's shares have received the first buy rating in nearly a year. UBS had earlier given a neutral rating to Vodafone Idea shares. Shares of Vodafone Idea were trading at Rs 15.10, up over 7 percent at around 10:41 am, on the National Stock Exchange (NSE) on Friday.
Vodafone-Idea target price
The foreign brokerage house UBS believes that Vodafone Idea shares could go up to Rs 18. That means, compared to Thursday's closing level, the shares of the telecom company could see an increase of around 30%. The brokerage house says that if the government provides relief in the payment of dues, the shares of Vodafone Idea could see an increase of around 70-80%. Vodafone Idea recently raised Rs 18000 crore through a follow-on public offer.
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The stock surged 110%
Vodafone Idea shares have seen a jump of 110% in the last year. Shares of the telecom company were at Rs 6.96 on May 24, 2023. Shares of the company are trading at Rs 14.58 on May 24, 2024. In the last 2 years, Voda Idea shares have risen by more than 75%. At the same time, the shares of the telecom company have fallen by more than 13 percent so far this year. The 52-week high level of Vodafone Idea shares is Rs 18.42. At the same time, the 52-week low level of the company's shares is Rs 6.87.