Sell Vodafone Idea; target of Rs 4: ICICI Direct

The four stocks they exited are Macpower CNC Machines, NDR Auto Components, Novartis India and RSWM, according to Dolat Capital.

ICICI Direct's research report on Vodafone Idea

Vodafone Idea (VIL) is India’s third largest telecom operator with ~25.5 crore wireless customers in India. Given the balance sheet stress and delayed 4G network expansion, it is facing customer churn and lags the key listed peers in terms of 4G network coverage, ARPU and margins

Outlook

We maintain SELL recommendation on the company as there remains uncertainty on survival due to lack of funding clarity/relief/major tariff hike We value VIL at a target price of Rs 4

For all recommendations report, click here

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