Vodafone Idea share price jumps ahead of Q3 results today. Buy or sell?

Stock market today: Vodafone Idea is going to declare its Q3 results today. Therefore, Vodafone Idea shares are expected to remain under the radar of stock market observers and investors as the market is expecting a stable set of numbers from the telecom major in Q3FY24.

As expected, Vodafone Idea share price today opened upside and went on to touch an intraday high of ₹14.95 apiece on NSE, logging around 2.50 per cent intraday rise against its previous close of ₹14.60 per share.

Vodafone Idea Q3 results 2024 preview

On the expected Vodafone Idea results for Q3FY24, Dhruv Mudaraddi, Research Analyst at StoxBox said, “We believe that the Vodafone Idea (VI) is expected to come out with a stable set of numbers in Q3FY24 supported by increasing rural penetration, growth in broadband subscribers, and roll-out of 5G services which will lead to improvement in Average Revenue per User (ARPU). Though the telecom company’s subscriber is expected to see healthy growth which will contribute to VI’s topline growth, we expect the margins to contract marginally due to 5G-related costs.”

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“Although we may see some narrowing down of the losses this quarter due to an increase in subscribers. However, delays in fundraising and an inability to expand in 5G will affect the third-quarter results,” the StoxBox expert added.

Vodafone Idea share price price target

On the outlook for Vodafone Idea shares, Sumeet Bagadia, Executive Director at Choice Broking said, “Vodafone Idea share price has made a strong base at ₹13 apiece level. So, Vodafone Idea shareholders are advised to hold the scrip maintaining stop loss at ₹13 per share level. On the upside, Vodafone Idea shares are facing a hurdle at ₹18. On breaching this hurdle, the scrip may go up to ₹20 apiece levels.”

On suggestions to the fresh investors, Sumeet Bagadia said, “Fresh investors can buy the scrip at the current level maintaining stop loss at ₹13 for short term target of ₹18 and ₹20.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.