Vodafone Idea Rebounds | Stock Up After Citi Upgrade to ‘Buy’ | 67% Upside Seen Despite 45% YoY Drop

🔼 Stock rose nearly 4% in early trade on Monday.
💼 Citi Research reaffirmed its ‘Buy’ rating with a target price of ₹12, indicating a 67% upside from previous close.

🏛️ Govt Equity Conversion:
- Vi converted ₹3,700 crore in spectrum dues into equity.
- Govt’s stake jumped from 22.6% to 48.99%, boosting confidence.
✅ Credit Rating Upgrade:
- ICRA upgraded Vodafone Idea’s credit rating, reflecting improved outlook.
⚠️ Citi’s View:
- Calls Vi a “high-risk buy” but sees potential given recent structural shifts.

📉 Down 45% in 1 year, yet analysts see strong rebound potential.
📢 Citi remains bullish, citing improving fundamentals and strategic government support.