Vodafone Idea Limited share price gained a day after the telecom service provider decided to hike tariffs. Vodafone Idea (Vi) will hike its tariff plans for prepaid users by 20-25 percent and the increases rates would be effective November 25, the company said in an exchange filing.
Domestic research and broking firm Motilal Oswal has a neutral call on Vi stock with a target of Rs 9.30 a share. It is of the view that the telecom firm’s tariff hike caters to 70 percent of its revenue pool (excluding postpaid and the B2B business), thus offering incremental revenue/EBITDA of Rs 5,500 crore/Rs 3,800 crore (2QFY22 annualised), i.e. a 14 percent/68 percent increase.
News Source:- Moneycontrol