Vodafone Idea rallies 76% in 6 months; brokerages turn cautious

Vodafone Idea has surged about 76% over the past six months, comfortably trading above key technical levels, bringing the company back into the spotlight for positive reasons. The rally has been driven by a confluence of factors, including relief on AGR dues, the rollout of a three-year turnaround plan, narrowing operating losses and improving ARPUs. Promoter Kumar Mangalam Birla’s increased exposure to the telecom operator has further strengthened investor confidence.