Vodafone Idea shares jumped 102% over one year to hit Rs 15.79

Vodafone Idea shares rose 102% over the past year, climbing from a September low of Rs 6.46 to a recent high of Rs 15.79. The rally followed two key corporate moves in May and June. In May, the Department of Telecommunications cut Vodafone Idea's adjusted gross revenue dues by 27%, settling them at Rs 64,046 crore for the previous year. This regulatory relief triggered bullish interest in the telecom giant. Six months later, billionaire industrialist Kumar Mangalam Birla joined the board as non-executive chairman, ending his absence which had lasted five years. Vodafone Idea's promoters also raised Rs 1,182 crore in capital in June to support operations. The stock performed well despite earlier underperformance for much of the year. Brokerage Jefferies labeled the equity a high-beta turnaround opportunity and projected a price target of Rs 20. Other financial analysts have expressed caution regarding the continued growth, noting that Vodafone Idea shares are already trading above their consensus targets.