Vodafone Idea share price continued its upward momentum, hitting an over 13-month high of ₹10.68 in Thursday’s intra-day trade on the BSE. The stock gained 3% and extended its rally following the company’s Q2FY26 financial results, which showed a marked improvement in performance and investor confidence.
In the last three trading sessions, Vodafone Idea (Vi) has rallied over 12%, while the stock has soared 15% in the past week — significantly outperforming the BSE Sensex, which rose just 2.5% during the same period. Over the past six months, Vi shares have surged 54%, far ahead of the broader market’s 4.5% gain. From its 52-week low of ₹6.12 on August 14, 2025, the stock has now rebounded by an impressive 75%.
Vodafone Idea Narrows Q2FY26
In its latest quarterly performance, Vodafone Idea Ltd reported a consolidated net loss of ₹5,584 crore for Q2FY26, a significant improvement from a loss of ₹7,176 crore in the same quarter last year. The reduction in losses was primarily due to lower finance costs and reduced forex fluctuations.
The company stated that vendor settlements, which had been provisioned earlier, helped lower its finance expenses. Additionally, average revenue per user (ARPU) improved to ₹180 in Q2FY26 compared to ₹166 in Q2FY25, representing an 8.7% year-on-year growth driven by customer upgrades and tariff hikes.
Vodafone Idea’s subscriber base stood at 196.7 million, with 127.8 million 4G/5G users, up from 125.9 million last year. The company attributed this growth to enhanced network performance and customer-centric plans.
AGR Dues Relief
One of the biggest positive developments for Vodafone Idea came after the Supreme Court’s recent decision allowing the Government of India to reassess adjusted gross revenue (AGR) dues up to FY17. Vi welcomed the judgment, noting that it is in active discussion with the Department of Telecommunications (DoT) for the next steps.
The telco said it is hopeful of a long-term government-backed solution, which could significantly reduce its financial burden. Analysts believe that a favorable outcome could improve Vi’s balance sheet and pave the way for much-needed fund infusion.
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Brokerages Maintain Optimistic View on Vodafone Idea
JM Financial Institutional Securities raised its Vodafone Idea target price to ₹11 (from ₹9.5), assuming potential ₹16,000 crore relief in AGR dues. The brokerage maintained an ‘Add’ rating, citing upside risks from higher-than-expected tariff hikes and subscriber growth. However, it warned of downside risks if the government provides limited relief or if Vi struggles to stabilize its user base.
Motilal Oswal Financial Services (MOFSL) also expressed optimism, stating that the AGR reassessment could be a game-changer. The brokerage expects that a 50% waiver in AGR dues, along with favorable payment terms, tariff hikes, and reduced competitive intensity, could lead to a sustainable recovery for Vi.
Vodafone Idea Outlook
Despite challenges, Vodafone Idea share price outlook remains strong as the company works toward financial stability and operational efficiency. The management is focusing on customer retention, data usage growth, and new offerings such as non-stop unlimited data and extended recharge validity to boost engagement.
With improving fundamentals, favorable regulatory developments, and rising ARPU, analysts expect Vodafone Idea stock to maintain upward momentum in the medium term. Investors are keenly watching upcoming policy decisions and the company’s execution on 5G rollout as key drivers for the next phase of growth.
