More trouble for Vodafone Idea? Motilal Oswal flags 3 big risks
Motilal Oswal reiterates its Sell recommendation on Vodafone Idea with a price target of Rs 6 per share, implying an 8% downside. The telecom major's EBITDA margin contracted 50 bps QoQ and subscriber losses moderated to 0.5 million in Q1. However, ARPU increased and Vi's capex plans have moderated. Fundraising remains elusive and AGR relief and tariff hikes are still a big worry.