CLSA said Q1FY27 was the first quarter of positive net subscriber additions since the merger.
| Photo Credit:
Vodafone Idea shares surged nearly 3 per cent on Tuesday after the telecom operator narrowed its net loss to ₹3,754 crore in Q1FY27. At 10.19 am, the stock traded at ₹13.09 on the NSE, after rising to ₹13.30 from the previous close of ₹12.92.Nomura retained its ‘neutral’ rating with a target price of ₹12.60. It said there were no surprises in Q1 and highlighted the start of the three-year capex programme. According to Nomura, a debt raise remains a key trigger, with catalysts including a successful debt-capital raise, industry tariff hikes, acceleration in subscriber additions and strategic equity investment.CLSA said Q1 revenue rose 3 per cent q-o-q and 6 per cent y-o-y to ₹11,680 crore, led by mobile ARPU, which increased 2 per cent q-o-q and 7 per cent y-o-y.CLSA said Q1FY27 was the first quarter of positive net subscriber additions since the merger. EBITDA rose 3 per cent q-o-q and 9 per cent y-o-y to ₹5,030 crore, also in line with estimates.JP Morgan said revenue and EBITDA came ahead of its estimates and consensus.CLSA maintained a ‘hold’ rating with a target price of ₹13. It said the quarter was in line with estimates and highlighted positive net subscriber additions for the first time since the merger.JP Morgan has an ‘underweight’ rating and a target price of ₹9. It said the key issue for the stock remains the absence of bank funding, which is crucial for capex and sustaining share.More Like ThisPublished on August 11, 2026
