Vodafone Idea share price: ICICI Securities maintains sell rating with target price of Rs 5
Vodafone Idea’s Q3 FY21 cash EBITDA at Rs 21 bn benefited from amortisation of subscriber acquisition cost (SAC, Rs 3.3 bn) over life-time of subs which was earlier expensed in P&L. VIL is showing some improving trends with lower subs loss, better gross adds, higher 4G net add and rise in data usage, but it is still not enough.
ICICI Securities believes Vodafone Idea may initiate tariff hikes, which should be followed by competition (same as Dec’19). ICICI Securities maintains sell rating with target price of Rs 5: Reuters