Vodafone Idea jumps over 9% as UBS upgrades rating to Buy, sees 80% upside

Shares of Vodafone Idea surged over 10% on Friday to hit intraday high of Rs 15.70 on NSE, following a notable upgrade by brokerage firm UBS, elevating the telecom service provider’s rating from “neutral” to “buy” — the first such recommendation in almost a year.

UBS projects Vodafone Idea’s shares to reach Rs 18 within the next 12 months, suggesting a potential upside of nearly 30% from Thursday’s closing levels. Additionally, in the event of governmental relief on pending dues, UBS envisions a substantial 70% to 80% upside potential for the stock.