(Image: iStock/IIFL Finance/ET NOW News)Sanjiv Bhasin Penny Stock : Veteran market expert Sanjiv Bhasin on Thursday has reiterated his bullish views on Vodafone Idea (Vi).
Sanjiv Bhasin Stock To Buy: Vodafone Idea Share Price Target 2024 The ace investor said, "Vodafone Idea will move only after Rs 22, Rs 18.
But Rs 22 to Rs 25 is coming in Vodafone Idea, do not be surprised."
The Rs 25 target represents a potential upside of up to 66.66 per cent from the current market price of Rs 15.05 per equity share.
Vodafone Idea Share Price History Vodafone Idea is a constituent of S&P BSE 200 and commands a market cap of Rs 99,791.67 crore.
Authored by : Rishabh Raj Updated Jun 6, 2024 | 02:16 PM IST Sanjiv Bhasin Penny Stock: At the current market price, the stock is trading above its key short-term and long-term exponential moving averages (EMAs). (Image: iStock/IIFL Finance/ET NOW News)
Sanjiv Bhasin Penny Stock : Veteran market expert Sanjiv Bhasin on Thursday has reiterated his bullish views on Vodafone Idea (Vi). In an exclusive conversation with ET NOW, Bhasin has advised viewers to buy Vodafone Idea's stock to earn handsome profits in near term.
Shares of the telecom service provider had plunged nearly 15 per cent to trade around Rs 12 level amidst a broad sell-off on Dalal Street on June 4, the day election results were announced. Since then, the stock has made smart recovery of around 25 per cent.
Currently, around 1:35 PM on Thursday, June 6, Vi's shares traded at Rs 15.05 per equity share on NSE. During the session so far, the stock moved between the range of Rs 14.85 and Rs 15.40. It has a 52-week range of Rs 7 and Rs 18.40.
At the current market price, the stock is trading above its key short-term and long-term exponential moving averages (EMAs) - 20-day, 50-day, 100-day and 200-day EMAs.
Vodafone Idea Limited is an Aditya Birla Group and Vodafone Group partnership. The company provides pan-India voice and data services across 2G, 3G, and 4G platforms.
Sanjiv Bhasin Stock To Buy: Vodafone Idea Share Price Target 2024 The ace investor said, "Vodafone Idea will move only after Rs 22, Rs 18. When it crosses Rs 18, then you call me. Like yesterday, I told you when we cross 700, then call me. So, when it crosses 18, then we will take it again. But Rs 22 to Rs 25 is coming in Vodafone Idea, do not be surprised."
The Rs 25 target represents a potential upside of up to 66.66 per cent from the current market price of Rs 15.05 per equity share.
Bhasin had earlier said, "Don't sell (Vodafone Idea) below Rs 22... (Ye Bhaav Jarur Aayega) . Look, the price hikes are around the corner. The capital infusion has given them a breath or a reinforcement of confidence. The group is doing well," he said.
He noted that the company's net debt to banks is just less than Rs 4,000 crore. "There will be some more amount of outage over the next one year. But I think they are well and truly on path to become EBITDA positive. Cash flow will become positive over the next one year."
"You will see a lot of users returning to Vodafone Idea. Also, the 5G expansion is going as per plan. I think all the meters fit perfectly," the ace investor had said.
"The underlying icing on the cake is going to be the AGR outlook. If the adjusted gross revenue (AGR) gives you that 40 per cent relief, I think the stock can be rerated very, very fast. But on all declines around these levels, this is a must have in your portfolio," he had said.
"Rs 22 is coming by the end of this year," Sanjiv Bhasin had added.
Vodafone Idea Q4 Results 2024 Vodafone Idea's consolidated net loss stood at Rs 7,675 crore in the quarter under review, compared to Rs 6,419 crore reported in the penultimate quarter of FY24.
The company’s revenue from operations slipped 0.6 per cent quarter-on-quarter to Rs 10,607 crore in Q4FY24 from Rs 10,673 crore reported in Q3FY24.
Vodafone Idea's EBITDA witnessed a fall of 0.3 per cent quarter-on-quarter to Rs 4,336 crore in the quarter under review, compared to Rs 4,350 crore reported in the penultimate quarter of FY24.
Vodafone Idea FPO Earlier in April 2024, the telecommunication company launched an FPO worth Rs 18,000 crore, comprising entirely of a fresh issue of 1,636.36 crore shares.
The company stated that net proceeds would be utilised to purchase equipment for expanding its network infrastructure, including setting up new 4G sites, expanding the capacity of existing 4G sites, and establishing new 5G sites. An amount of Rs 12,750 crore will be allocated for this purpose.
Vodafone Idea Share Price History Vodafone Idea is a constituent of S&P BSE 200 and commands a market cap of Rs 99,791.67 crore. According to BSE analytics as on June 6, Vodafone Idea shares have climbed 16.98 per cent in the last 6 months.
The telecom firm's shares have delivered a multibagger return of 112.15 per cent in the last one year, resulting in wealth gain for investors.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
