{"id":323233,"date":"2026-10-22T11:33:44","date_gmt":"2026-10-22T06:03:44","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=323233"},"modified":"2026-10-22T11:33:44","modified_gmt":"2026-10-22T06:03:44","slug":"vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/","title":{"rendered":"Vodafone Idea Shares: Up 20% in 6 Months, Will Q2 Results 2026 Fuel the Rally?"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Vodafone Idea shares were at Rs 11.74 (up 0.86%) on the NSE at about 11:20 am IST on 22 Oct 2026, roughly 23% above the Rs 9.55 level of six months ago but about 26% below the Rs 15.79 weekly high of early September (my calculation). Brokers&#8217; targets range from Rs 13 to Rs 14.70, the RSI is 31.9 and the Q2 FY27 results date was not announced in the sources I read. Last year&#8217;s Q2 results came on 10 Nov 2025.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Vodafone Idea shares are up about 23% in six months to Rs 11.74, but they have fallen from a September high of Rs 15.79 and sit below their 20-day average of Rs 12.97, so the rally has cooled. Brokers see steady Q2 FY27 numbers, with JM Financial expecting revenue of about Rs 11,800 crore and cash EBITDA down 1.1% to Rs 2,450 crore, and UBS, JM Financial and Centrum setting targets of Rs 14.50, Rs 14.70 and Rs 13. I found no confirmed Q2 results date and no expert stop-loss, so the levels in this article are my own references. Large spectrum dues, negative net worth and a pending Rs 25,000 crore debt raise remain the main risks.<\/p>\n<\/p><\/div>\n<p>Vodafone Idea shares have gained about 20% over six months, from near Rs 9.55 to around Rs 11.60 in the headline and Rs 11.74 now, yet the stock is well below the Rs 15.79 high it touched in the week of 7 Sep. Investors are now asking whether the Q2 FY27 results will restart the rally.<\/p>\n<p>This article on Vodafone Idea shares covers the price action, broker targets and estimates, debt and AGR dues, valuation data that needs careful reading, and the levels I would watch. It is educational and not a recommendation to buy or sell, and the Q2 date should be confirmed on the exchange website.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Vodafone_Idea_Shares_Price_Action_and_Key_Numbers\" title=\"Vodafone Idea Shares: Price Action and Key Numbers\">Vodafone Idea Shares: Price Action and Key Numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Vodafone_Idea_Q2_Results_2026_What_Brokers_Expect\" title=\"Vodafone Idea Q2 Results 2026: What Brokers Expect\">Vodafone Idea Q2 Results 2026: What Brokers Expect<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#AGR_Dues_Debt_and_Funding_Why_Vodafone_Idea_Shares_Stay_Volatile\" title=\"AGR Dues, Debt and Funding: Why Vodafone Idea Shares Stay Volatile\">AGR Dues, Debt and Funding: Why Vodafone Idea Shares Stay Volatile<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Reading_the_Valuation_Data_on_Vodafone_Idea_Shares_Carefully\" title=\"Reading the Valuation Data on Vodafone Idea Shares Carefully\">Reading the Valuation Data on Vodafone Idea Shares Carefully<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Vodafone_Idea_Shares_Levels_I_Would_Watch_My_Reference_Points\" title=\"Vodafone Idea Shares: Levels I Would Watch (My Reference Points)\">Vodafone Idea Shares: Levels I Would Watch (My Reference Points)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#What_to_Watch_Next_for_Vodafone_Idea_Shares\" title=\"What to Watch Next for Vodafone Idea Shares\">What to Watch Next for Vodafone Idea Shares<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Frequently_Asked_Questions\" title=\"Frequently Asked Questions\">Frequently Asked Questions<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Why_have_Vodafone_Idea_shares_risen_about_20_in_six_months\" title=\"Why have Vodafone Idea shares risen about 20% in six months?\">Why have Vodafone Idea shares risen about 20% in six months?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#When_are_the_Vodafone_Idea_Q2_results\" title=\"When are the Vodafone Idea Q2 results?\">When are the Vodafone Idea Q2 results?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#What_do_brokers_expect_from_Vodafone_Idea_in_Q2_FY27\" title=\"What do brokers expect from Vodafone Idea in Q2 FY27?\">What do brokers expect from Vodafone Idea in Q2 FY27?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#What_is_the_Vodafone_Idea_target_price\" title=\"What is the Vodafone Idea target price?\">What is the Vodafone Idea target price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Is_there_a_stop-loss_for_Vodafone_Idea_shares\" title=\"Is there a stop-loss for Vodafone Idea shares?\">Is there a stop-loss for Vodafone Idea shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Is_the_PE_of_338_a_sign_that_Vodafone_Idea_shares_are_undervalued\" title=\"Is the P\/E of 3.38 a sign that Vodafone Idea shares are undervalued?\">Is the P\/E of 3.38 a sign that Vodafone Idea shares are undervalued?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#What_are_the_main_risks_for_Vodafone_Idea_shares\" title=\"What are the main risks for Vodafone Idea shares?\">What are the main risks for Vodafone Idea shares?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/vodafone-idea-shares-up-20-percent-in-6-months-will-q2-results-2026-fuel-the-rally-target-price-and-stop-loss-levels\/#Is_this_article_investment_advice\" title=\"Is this article investment advice?\">Is this article investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Vodafone_Idea_Shares_Price_Action_and_Key_Numbers\"><\/span><strong>Vodafone Idea Shares: Price Action and Key Numbers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vodafone Idea shares: measure<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Value at about 11:20 am IST on 22 Oct 2026<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">NSE price and day change<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 11.74, up 0.86% (previous close Rs 11.64)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Day range<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 11.23 to Rs 11.79<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Six-month move<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 23% from Rs 9.55 (my calculation); the headline says about 20%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">One-year move<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 34% from the weekly close of Rs 8.70 in mid-Oct 2025 (my data pull)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Weekly high and low in the past year<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 15.79 (week of 7 Sep 2026) and Rs 8.13 (week of 30 Mar 2026)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Distance from the high<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 26% below (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">RSI (14-day)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">31.9<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20-day average<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 12.97; price is about 9.5% below it (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Market value<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 1,26,220 crore<\/td>\n<\/tr>\n<\/table>\n<p>The picture for Vodafone Idea shares is mixed. Over six months and a year the stock is up, but in the last six weeks it has slipped from Rs 15 levels to Rs 11.74, including a fall of about 7% in the week to 19 Oct (from Rs 12.59 to Rs 11.68, my calculation). An RSI of 31.9 is near the oversold zone, which can precede a bounce but does not guarantee one.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Compare Vodafone Idea and Bharti Airtel on the Univest screeners page<\/a><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vodafone_Idea_Q2_Results_2026_What_Brokers_Expect\"><\/span><strong>Vodafone Idea Q2 Results 2026: What Brokers Expect<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vodafone Idea shares: broker (5 Oct 2026 previews)<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Rating and target<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Q2 FY27 expectation<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">UBS<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Neutral, Rs 14.50 (cut slightly)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Subscribers steady at 19.5 crore; ARPU up 1.5% on the quarter; revenue up 2%; EBITDA up 1.5%<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">JM Financial<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Add, Rs 14.70 (unchanged)<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Revenue up 1% to about Rs 11,800 crore; reported EBITDA down 0.5% to Rs 5,010 crore; cash EBITDA down 1.1% to Rs 2,450 crore<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Centrum Broking<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Neutral, Rs 13<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Talks with banks for a Rs 25,000 crore debt raise are the key watch point<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">ICICI Securities<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not stated<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Subscribers up about 10 lakh on the quarter; 4G additions of 1 lakh; ARPU up 7.6% on the year against 5.9% for Bharti Airtel<\/td>\n<\/tr>\n<\/table>\n<p>The Vodafone Idea Q2 results should therefore be steady and not dramatic. JM Financial expects slightly lower cash EBITDA because of higher marketing and seasonal employee costs. The company has not announced the Q2 date in the sources I read, and the Q2 FY26 results last year came on 10 Nov 2025, so I would not assume an early date. Confirm it on the exchange announcements page.<\/p>\n<p>The Vodafone Idea target price range of Rs 13 to Rs 14.70 sits about 11% to 25% above Rs 11.74 (my calculation). A Vodafone Idea target price is only useful with the broker&#8217;s reasoning behind it, and in May the targets ranged from Rs 9 at Macquarie to Rs 14 at Citi and JM Financial, so views on Vodafone Idea shares have narrowed but are not unanimous. Funding and AGR relief are the points most brokers highlight (my reading from the notes I read).<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to get Vodafone Idea Q2 results alerts.<\/em><\/p>\n<p><strong>Risk:<\/strong> Broker estimates are opinions, and a small miss on ARPU or cash EBITDA can move a low-priced stock several percent in a day.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"AGR_Dues_Debt_and_Funding_Why_Vodafone_Idea_Shares_Stay_Volatile\"><\/span><strong>AGR Dues, Debt and Funding: Why Vodafone Idea Shares Stay Volatile<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vodafone Idea shares: balance sheet point<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">What reports say<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">AGR dues<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">AGR relief reduced debt by about Rs 55,000 crore, according to JM Financial (May 2026 note)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Spectrum dues<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About Rs 1,27,400 crore; possible relief is a key variable, per JM Financial<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt raise<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 25,000 crore, awaiting lender approval, as part of a Rs 45,000 crore capex plan for FY27 to FY29<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Government stake<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">49%, falling to about 47.1% on full conversion of warrants (May 2026 report)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Birla group warrants<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 4,730 crore at an exercise price of Rs 11 a warrant<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Net worth<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Book value is negative at minus Rs 3.30 a share in my data pull<\/td>\n<\/tr>\n<\/table>\n<p>These figures show why Vodafone Idea shares depend on financing news. The debt raise funds network capex, but the spectrum dues are large against annual EBITDA of roughly Rs 20,000 crore (JM Financial&#8217;s quarterly estimate times four, my calculation). The warrant exercise price of Rs 11 is close to the current Rs 11.74, which gives the Birla group family entity little room above market (my reading). Several of these data points come from May reports and may have changed.<\/p>\n<p><strong>Risk:<\/strong> Failure to close the Rs 25,000 crore raise would delay capex, and subscriber growth could then stall.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Reading_the_Valuation_Data_on_Vodafone_Idea_Shares_Carefully\"><\/span><strong>Reading the Valuation Data on Vodafone Idea Shares Carefully<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vodafone Idea shares: ratio in my data pull<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Value<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">How to read it<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">P\/E<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">3.38<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Looks very low, but reflects a one-off gain in trailing earnings<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Trailing EPS<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 3.45<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">A related headline mentioned a Rs 51,986 crore Q4 FY26 profit, which I could not verify<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price to book<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">0.00<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not meaningful because book value is negative<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Debt to equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Minus 5.38<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Negative equity makes the ratio meaningless<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Return on equity<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">67.24%<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Not meaningful for the same reason<\/td>\n<\/tr>\n<\/table>\n<p>A P\/E of 3.38 would normally signal a bargain, but for Vodafone Idea shares it is a distortion from accounting gains linked to AGR relief, not a measure of operating profit. I would use revenue, EBITDA, cash EBITDA, ARPU and net debt instead. Anyone comparing the stock with Bharti Airtel on P\/E would reach the wrong conclusion.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Vodafone_Idea_Shares_Levels_I_Would_Watch_My_Reference_Points\"><\/span><strong>Vodafone Idea Shares: Levels I Would Watch (My Reference Points)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border-collapse:collapse;width:100%;\">\n<tr>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Vodafone Idea shares: level<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Price<\/th>\n<th style=\"text-align:left;padding:8px;border:1px solid #DDDDDD;background:#0A0E1A;color:#FFFFFF;\">Why I use it<\/th>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Today&#8217;s low<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 11.23<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">About 4.3% below Rs 11.74 (my calculation)<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">20-day average<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 12.97<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Price is below it; a close above would improve the chart<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Centrum target<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 13.00<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Lowest of the three recent targets<\/td>\n<\/tr>\n<tr>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">UBS and JM Financial targets<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Rs 14.50 and Rs 14.70<\/td>\n<td style=\"padding:8px;border:1px solid #DDDDDD;\">Upper end of recent broker views, about 24% to 25% above Rs 11.74 (my calculation)<\/td>\n<\/tr>\n<\/table>\n<p>None of the sources I read gives an expert stop-loss for Vodafone Idea shares, so these are my reference points and not advice. A move below Rs 11.23 would take the stock to fresh short-term lows, and a recovery above Rs 12.97 would be the first sign of improvement. Any stop-loss should come from your own risk limit and position size.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_to_Watch_Next_for_Vodafone_Idea_Shares\"><\/span><strong>What to Watch Next for Vodafone Idea Shares<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ol>\n<li>The Q2 FY27 results date announcement on NSE and BSE<\/li>\n<li>ARPU and subscriber numbers for Vodafone Idea shares against the broker estimates above<\/li>\n<li>Progress on the Rs 25,000 crore debt raise<\/li>\n<li>Any government decision on spectrum dues<\/li>\n<li>Whether Vodafone Idea shares hold Rs 11.23 and recover toward its 20-day average<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Vodafone Idea shares have rewarded six-month holders but are well below September&#8217;s high, with an RSI of 31.9 and brokers expecting steady Q2 numbers. Funding, AGR and spectrum dues matter more than a single quarter. Read the filing and size positions to your own risk.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions\"><\/span><strong>Frequently Asked Questions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Why_have_Vodafone_Idea_shares_risen_about_20_in_six_months\"><\/span><strong>Why have Vodafone Idea shares risen about 20% in six months?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The stock moved from about Rs 9.55 to Rs 11.74, helped by AGR relief, improving ARPU and a broader rally earlier in the year. It is still about 26% below the Rs 15.79 weekly high of early September by my calculation.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"When_are_the_Vodafone_Idea_Q2_results\"><\/span><strong>When are the Vodafone Idea Q2 results?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> For Vodafone Idea shares, I did not find an announced date in the sources I read. Last year&#8217;s Q2 results came on 10 Nov 2025. Check the NSE and BSE announcements for the board meeting date.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_do_brokers_expect_from_Vodafone_Idea_in_Q2_FY27\"><\/span><strong>What do brokers expect from Vodafone Idea in Q2 FY27?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> For Vodafone Idea shares, JM Financial expects revenue up 1% to about Rs 11,800 crore and cash EBITDA down 1.1% to Rs 2,450 crore. UBS expects revenue up 2% and ARPU up 1.5% on the quarter. ICICI Securities sees ARPU up 7.6% on the year.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Vodafone_Idea_target_price\"><\/span><strong>What is the Vodafone Idea target price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> On Vodafone Idea shares, UBS has Neutral with Rs 14.50, JM Financial has Add with Rs 14.70 and Centrum has Neutral with Rs 13, all from 5 Oct previews. Targets are opinions and can change after results.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_there_a_stop-loss_for_Vodafone_Idea_shares\"><\/span><strong>Is there a stop-loss for Vodafone Idea shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> I found no expert stop-loss. My reference points are today&#8217;s low of Rs 11.23 and the 20-day average of Rs 12.97. These are not advice, and any stop-loss should match your own risk limit.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_the_PE_of_338_a_sign_that_Vodafone_Idea_shares_are_undervalued\"><\/span><strong>Is the P\/E of 3.38 a sign that Vodafone Idea shares are undervalued?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Not reliably. The ratio reflects a one-off gain in trailing earnings, and book value is negative, so P\/E and price to book are not meaningful. Use EBITDA, ARPU and net debt instead.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_main_risks_for_Vodafone_Idea_shares\"><\/span><strong>What are the main risks for Vodafone Idea shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> For Vodafone Idea shares, large spectrum dues of about Rs 1,27,400 crore, negative net worth, a pending Rs 25,000 crore debt raise and heavy capex are the main risks reported by brokers. Subscriber and ARPU trends are the main positives.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_article_investment_advice\"><\/span><strong>Is this article investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why have Vodafone Idea shares risen about 20% in six months?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The stock moved from about Rs 9.55 to Rs 11.74, helped by AGR relief, improving ARPU and a broader rally earlier in the year. It is still about 26% below the Rs 15.79 weekly high of early September by my calculation.\"}},{\"@type\":\"Question\",\"name\":\"When are the Vodafone Idea Q2 results?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"For Vodafone Idea shares, I did not find an announced date in the sources I read. Last year's Q2 results came on 10 Nov 2025. Check the NSE and BSE announcements for the board meeting date.\"}},{\"@type\":\"Question\",\"name\":\"What do brokers expect from Vodafone Idea in Q2 FY27?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"For Vodafone Idea shares, JM Financial expects revenue up 1% to about Rs 11,800 crore and cash EBITDA down 1.1% to Rs 2,450 crore. UBS expects revenue up 2% and ARPU up 1.5% on the quarter. ICICI Securities sees ARPU up 7.6% on the year.\"}},{\"@type\":\"Question\",\"name\":\"What is the Vodafone Idea target price?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"On Vodafone Idea shares, UBS has Neutral with Rs 14.50, JM Financial has Add with Rs 14.70 and Centrum has Neutral with Rs 13, all from 5 Oct previews. Targets are opinions and can change after results.\"}},{\"@type\":\"Question\",\"name\":\"Is there a stop-loss for Vodafone Idea shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"I found no expert stop-loss. My reference points are today's low of Rs 11.23 and the 20-day average of Rs 12.97. These are not advice, and any stop-loss should match your own risk limit.\"}},{\"@type\":\"Question\",\"name\":\"Is the P\/E of 3.38 a sign that Vodafone Idea shares are undervalued?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Not reliably. The ratio reflects a one-off gain in trailing earnings, and book value is negative, so P\/E and price to book are not meaningful. Use EBITDA, ARPU and net debt instead.\"}},{\"@type\":\"Question\",\"name\":\"What are the main risks for Vodafone Idea shares?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"For Vodafone Idea shares, large spectrum dues of about Rs 1,27,400 crore, negative net worth, a pending Rs 25,000 crore debt raise and heavy capex are the main risks reported by brokers. Subscriber and ARPU trends are the main positives.\"}},{\"@type\":\"Question\",\"name\":\"Is this article investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Vodafone Idea shares at Rs 11.74, up about 23% in six months but 26% below the high. Broker targets, Q2 estimates, AGR and spectrum dues, risks and levels.<\/p>\n","protected":false},"author":38,"featured_media":323231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[14553,629,1296,14554,14555,14549,14552,14548,14551,14550],"class_list":["post-323233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-agr-dues","tag-bharti-airtel","tag-telecom-stocks","tag-vi-share-price-today","tag-vodafone-idea-arpu","tag-vodafone-idea-q2-results","tag-vodafone-idea-share-price","tag-vodafone-idea-shares","tag-vodafone-idea-stop-loss","tag-vodafone-idea-target-price"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["323231"],"rank_math_title":["Vodafone Idea Shares Q2 Results 2026: Targets and Levels"],"rank_math_description":["Vodafone Idea shares at Rs 11.74, up about 23% in 6 months but 26% below the high. See broker targets of Rs 13 to 14.7, Q2 estimates, AGR dues, risks and key levels."],"rank_math_focus_keyword":["Vodafone Idea shares"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/vodafone-idea-shares-up-20-in-6-months-will-q2-results-2026-fuel-the-rally.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/323233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=323233"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/323233\/revisions"}],"predecessor-version":[{"id":323235,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/323233\/revisions\/323235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/323231"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=323233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=323233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=323233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}