India's Vodafone Idea rises after government cuts pending dues

Vodafone Idea

04/05/2026 08:08

** Shares of India's Vodafone Idea VODA.NS jump as much as 6.36%, last up 3.23% to 10.55 rupees

** Government cut co's pending telecom dues to 640.46 billion rupees ($6.75 billion) from 876.95 billion rupees ($9.24 billion)

** Citi ("buy/high risk"; TP:14 rupees) says move clears a key overhang, could help co raise funds needed for network expansion

** Adds lower dues improve the co's financial position, but the ability to secure funding remains a key monitorable

** VODA rated "Hold" on average by 19 analysts, median PT at 10 rupees - data compiled by LSEG

** YTD, stock down 5.02%

($1 = 94.9312 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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