Vodafone Idea share price: Jefferies sees 132% upside to ₹36 on tariff hikes; initiates coverage with ‘Buy’ rating

Global brokerage firm Jefferies, in its latest note, has expressed optimism over Vodafone Idea’s potential recovery, citing subscriber stabilisation, strong operating leverage, and tariff hikes, which it believes could take the stock back to levels not seen since July 2018.

The shares, which have been on a sustained bull run over the last year, have surged more than 70%, supported by improving financial performance, rising ARPU, and a recovery in the subscriber base.