Vodafone gains over 3% post Q2 show; JP Morrgan sees potential gains of up to 36%
Vodafone Idea against expectations has released weak numbers with a miss on revenue and EBITDA.
Vodafone Idea shares in Thursday's session gained over 3 per cent to the day's high price of Rs 7.62 apiece after the company's Q2 results came after market hours on Wednesday. For the September quarter, the company's net loss came in higher than the previous quarter's net loss and even Zee Business reesearch estimates at Rs 7,175.9 crore.
On the NSE, the stock jumped too Rs 7.62 apiece post the results as at the last count.
After the company's weaker-than-expected earning, the brokerage JP Morgan has given a 'neutral' call on the stock with a target of Rs 10 per share. The target implies an upside of 36 per cent from the last closing price of Rs 7.37 per share.
As per the brokerage, the company missed on revenue and EBITDA during the September quarter, nonetheless it anticipates an increase in capex in H2.
Further, it added that stock reaction will depend on management's commentary on the update on debt funding.
The company on the sidelines of its Q2 earnings said its debt from banks and financial institutions reduced by Rs 4,580 crore to Rs 3,250 crore in the last one year.
Its payment obligations owed to the government stood at Rs 2,12,260 crore, as of September 30. That included deferred spectrum payment obligations to the tune of Rs 1,41,940 crore and adjusted gross revenue-related liabilities of Rs 70,320 crore.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
12:53 PM IST