Is Vodafone Idea a ‘Buy’ in near-term? CLSA upgrades, Nomura maintains Buy

The Vodafone Idea stock continues to be in focus. The share price has jumped 19% from Friday’s closing levels after the Govt decided to convert Vi’s upcoming spectrum dues repayment into equity. While the move no doubt brings about mid-term relief for the telecom major’s cash flow worries, the question is have the clouds of concern moved away? Key international brokerage houses have upgraded rating on Vodafone Idea and revised the target pice higher.