
VIL shares: JM Financial has maintained its 'Sell' on Vodafone Idea with unchanged target price of Rs 10. In our bull case scenario, VIL's fair value could jump to Rs 15 per share, it said. Vodafone Idea (Vi) plans to launch its 5G services by March 2025, starting with Delhi and Mumbai. The company’s Chief Technology Officer, Jagbir Singh, said they will roll out 5G in 17 regions, focusing on metro cities and major urban areas first, according to a report by The Economic Times.
Vi also aims to increase its 4G coverage to reach 90 per cent of India's population by June 2024. Currently, its 4G network covers about 77 per cent of the population, serving around 1.03 billion people. The company wants to strengthen its network to better compete with Reliance Jio and Bharti Airtel.
As part of its revival plan, Vi raised ₹24,000 crore through equity funding, including ₹18,000 crore from a follow-on public offer. Most of this money will be used to improve its 4G network and support the launch of 5G.