(Pic: ET NOW)Vodafine Idea Share Price: Veteran market expert Sanjiv Bhasin has reiterated his bullish views on Vodafone Idea .
In an exclusive conversation with ET NOW, Bhasin has advised viewers not to sell Vodafone Idea stock.
"You will see a lot of users returning to Vodafone Idea.
Vodafone Idea shares have a 52-week range of Rs 18.42 - Rs 6.98.
VIDEOWATCH | Sanjiv Bhasin shares his bullish views on Vodafone Idea.
Authored by : Abhinav Ranjan Updated May 29, 2024 | 12:58 PM IST Sanjiv Bhasin has exuded confidence that Vodafone Idea will do well and its shares will soon touch Rs 22-mark. (Pic: ET NOW)
Vodafine Idea Share Price: Veteran market expert Sanjiv Bhasin has reiterated his bullish views on Vodafone Idea . In an exclusive conversation with ET NOW, Bhasin has advised viewers not to sell Vodafone Idea stock.
He said that the Vodafone Idea is a good buy at the current price and exuded confidence that the Aditya Birla Group will do well going forward.
"Don't sell 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 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 said.
"Rs 22 is coming by the end of this year," Sanjiv Bhasin added.
The struggling telecom operator recently concluded follow-on public offer (FPO) wherein it managed the raise Rs 18,000 crore.
Vodafone Idea is a constituent of S&P BSE 200. According to BSE analytics, the Vi stock has yielded a positive return of 10 per cen in the last 6 months. The stock has delivered a multibagger return of 105 per cent in the last one year. Vodafone Idea shares have a 52-week range of Rs 18.42 - Rs 6.98. The company commands a market cap of Rs 97,664.20 crore as on May 29, according to BSE website.
VIDEO
WATCH | Sanjiv Bhasin shares his bullish views on Vodafone Idea. Listen in!@sanjiv_bhasin pic.twitter.com/sxq5YorMTq — ET NOW (@ETNOWlive) May 29, 2024
(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.)
