Don’t think Vodafone Idea stock can move beyond Rs 18-20 levels for now: Ambareesh Baliga
Independent market expert Ambareesh Baliga believes the Vi stock cannot move beyond Rs 18-20 levels for the time being. “At Rs 15, I would say it’s a bit risky. I was one of the very few guys who were betting on survivor of Vodafone Idea, because like I said at that time also, the government cannot afford to have the shutdown and you can’t have two players in the market. I think all that is already there in the price now. The telecom sector overall is betting on higher ARPUs in 2022. I’m quite sure that is going to be there. But as far as Vodafone Idea is concerned, possibly for next three-four years, it is there for sure. Growth beyond that will clearly depend on how well it is able to position itself as far as the ARPUs are concerned. Even as of now, there’s a huge difference between Jio and Vodafone Idea ARPUs. That has to catch up.”
“We will have to see whether they are able to add more customers because they have been losing subscribers in the whole of the last 18 months. If all these things fall in place, yes, there could be a very decent upside,” he added.