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Vodafone Idea Share Price: A Rollercoaster Ride

Vodafone Idea (VI), one of India's top telecom companies, has been making waves in the stock market with volatile share prices. Let's dive into what's been happening.

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Major Decline in Share Price

As of September 19, 2024, VI's share price stood at ₹16.21 on NSE and ₹16.36 on BSE. However, it has fallen 16% in the past month and 20% this year.

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Key Factors Behind the Drop

Goldman Sachs' Target Price: The firm gave a shockingly low target of ₹2.5, indicating a potential 83% downside. Underperformance: VI lost 500 basis points of market share over the past 3 years. Supreme Court AGR Ruling: The rejection of Vodafone Idea's AGR plea continues to weigh heavily on its stock.

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Technical Analysis

Analysts note the stock has key support at ₹11.80. If it holds, it might bounce back to ₹16-18, but a break below could lead to a further slide into single digits.

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High debt, legal hurdles, and a weak technical structure suggest the road ahead is bumpy. While some upside potential remains, the challenges make the stock risky for investors.

Investor Concerns