Vodafone Idea shares jump 53% in six months; analysts outline key support, resistance zones

Shares of Vodafone Idea Ltd staged a sharp recovery in Thursday's trade after the telecom operator informed exchanges that it would receive around Rs 5,836 crore from UK-based Vodafone Group as part of a re-settlement of a liability claim pact between the two companies. The stock climbed 10.78 per cent to hit a day's high of Rs 11.92 and was up 6.23 per cent at Rs 11.43 at last check, rising 53.42 per cent over the past six months.

Under the revised agreement, Vodafone Group promoters will release Rs 2,307 crore over the next 12 months for Vodafone Idea. The Group has also set aside its 328 crore shares held in the company for its benefit.

A Contingent Liability Adjustment Mechanism (CLAM) was formed at the time of the 2017 merger between Vodafone India and Idea Cellular to address pre-merger contingent liabilities related to legal, regulatory, tax and other matters. Vodafone's maximum exposure was capped at Rs 8,369 crore initially, and after payouts made so far, the reduced exposure now stands at Rs 6,394 crore.

Technically, a few analysts pointed out mixed signals. Support for the stock is seen near Rs 10–9.50, while resistance lies around Rs 12.50–14.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, noted, "The stock has showcased strong volatility in the last session, plunging towards the 50-DEMA after an elongated period of bullish momentum. The support zone is visible around Rs 10–9.50, while Rs 12.50, followed by Rs 14, represents a sturdy hurdle zone."

AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, said, "Vodafone Idea shares currently look bearish on daily charts with resistance at Rs 12.85. A daily close below Rs 10.7 could push the stock down towards Rs 8.76 in the near term."

In contrast, Ravi Singh, Chief Research Officer at Mastertrust, stated that the stock "may rise and test Rs 13.50 in the near term."

Vodafone Idea was formed in 2018 when Vodafone Group merged its India business with Idea Cellular. Promoters held a 25.57 per cent stake as of September 2025.