Penny Stock To Buy: Telecom Vodafone Idea Limited(NSE: IDEA) share was in focus today on Thursday. The company’s share rose 4% to an intraday high of Rs 16.50.
A foreign brokerage has advised to buy this stock. The broker has retained its “buy” rating on the stock. Vodafone Idea Limited with a goal price of 22 rupees.
There’s a major reason for this increase in share prices. The Supreme Court has finally agreed to hear the telecom company’s AGR’s curative petition.
The brokerage said that it sees the Supreme Court’s move as an important development as the matter has been pending for a long time.
This Can Also Be The Reason For The Rise
Let us tell you that in a media report, the telecom company has said that it has paid all its dues of about Rs 700 crore including license fee and spectrum payment for the April-June period.
Let us tell you that even before this, the foreign brokerage had earlier said that VIL is focusing on completing the task of taking loans and discussions are going on with the banks for this.
Shares’ Condition
Vodafone Idea share is down 6 percent so far in 2024. However, this stock has climbed more than 80% in a year. The share of the debt-ridden company was selling for Rs 118 on 17 April 2015.
In the long term, it has caused a huge loss of 86% to its investors. Let us tell you that the government has a 23.15 percent stake i.e. 16,13,31,84,899 shares in Voda Idea.
Quick Fact
Company name | Vodafone Idea
| Vodafone Idea | Information |
|---|---|
| Possible Target Price | ₹22 |
| Recent Intraday High | ₹16.50 |
| Recent Gain | 4% rise |
| Key Reason | Supreme Court agreed to hear AGR petition |
| Payment Status | Paid ₹700 crore dues (April-June) |
| Loan Focus | Seeking loans, discussions with banks ongoing |
| Government Stake | 23.15% (16,13,31,84,899 shares) |
| 1-Year Performance | 80% increase |
| Long-Term Impact | 86% loss since 2015 |
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