Vodafone Idea shares moved up 18% this year so far; here's what analysts have to say

Vodafone Idea Ltd settled 2.05 per cent higher at Rs 9.47 on Friday. At this closing value, the stock has climbed 18.08 per cent on a year-to-date (YTD) basis. It saw high trading volume on BSE today as around 6.10 crore shares changed hands. The figure was higher than the two-week average volume of 3.46 crore shares. Turnover on the counter came at Rs 57.96 crore, commanding a market capitalisation (m-cap) of Rs 67,609.20 crore.

The telecom operator, which is scheduled to declare the December 2024 quarter (Q3 FY25) numbers on February 11, turned positive ahead of quarterly results.

"The stock has been showing positivity ahead of quarterly earnings backed by volumes. Investors with a high-risk appetite can hold on to the stock. Going ahead, one needs to observe the business metrics and results," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

Technically, support on the counter could be seen in the Rs 8.50-7.80 range. It traded higher than the 5-day, 10-, 20-, 30-, 50-day and 100-day simple moving averages (SMAs) but lower than the 150-day and 200-day SMAs. The stock's 14-day relative strength index (RSI) came at 58.21. A level below 30 is defined as oversold while a value above 70 is considered overbought.

"Voda Idea has witnessed a consolidation breakout. The counter seems to have a support base around Rs 8.50-7.80 subzones and has started gaining traction. For now, the subsequent potential resilience is seen around the Rs 10.80-11 subzone, while the mentioned support base is likely to cushion any shortcomings," said Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One.

"The stock has strong resistance at Rs 10 level. A daily close below support of Rs 9 could lead to a target of Rs 7.80 in the near term," said Sebi-registered research analyst AR Ramachandran.

VIL is currently involved in the process of rolling out its 5G services in select areas. The company was formed in 2018 when Vodafone Group Plc merged its India business with Idea Cellular. Promoters held a 38.80 per cent stake in the telco as of January 9, 2025, a 1.48 per cent uptick from 37.32 per cent on December 31, 2024.

Recently, UK-based Vodafone Group said it sold the remaining 3 per cent stake in domestic telecom infrastructure firm Indus Towers for Rs 2,800 crore.