Vodafone Idea stock doubles in just one month, CLSA sees more upside

Vodafone Idea's ARPU at Rs 109 is nearly 20 per cent lower than Bharti Airtel. CLSA expects the company's ARPU to grow by 30 per cent by FY22, underpinned by tariff hikes

Shares of Vodafone Idea have more than doubled in just one month.
 

The stock on Thursday ended at Rs 8.9, up 2.15 since May 6. While the Street has been largely bullish on the telecom sector, high debt and uncertainty over payment of adjusted gross revenue (AGR) dues had kept a leash on Vodafone Idea’s stock price even as rival Bharti Airtel continued to charge ahead.
 

Market players said reports that Google was eyeing stake in Vodafone Idea had given an impetus to its stock price. Influential brokerage CLSA on Wednesday issued a ‘buy’ rating on the stock with a