New Delhi. Vodafone Idea's shares, which are facing heavy debt and financial crisis, may fall sharply. Famous brokerage Macquarie has started coverage of Vodafone Idea shares with a target price of Rs 10. This means that Vodafone's shares can dive by about 37 per cent from the current price.

What is the problem with Vodafone Idea?

Renowned global brokerage Macquarie says that Vodafone Idea is neck deep in debt. Vodafone has already lost a large share of its customers to Reliance Jio and Bharti Airtel. According to Macquarie, this trend will continue, and Vodafone's subscriber base, i.e. market share, will decrease. Also, there is a risk of further equity sales in the company.

Status of Vodafone Idea shares

Vodafone Idea's stock has been sluggish for quite some time. Its stock closed at Rs 15.88 on Friday (August 16) with a marginal gain of 0.57 per cent. In the last 6 months, Vodafone has given a negative return of 0.75 per cent. However, if we talk about the period of one year, investors have made a bumper profit of 104 per cent. Its one-year high is Rs 19.18, and low is Rs 7.50.

Airtel's target price increased.

Macquarie raised the rating of Sunil Mittal-led Bharti Airtel from 'Neutral' to 'Outperform'. It also raised the target price from Rs 1,280 to Rs 1,630 per share. Airtel's stock closed at Rs 1,485.90 on Friday (August 16) with a gain of 0.96 percent. According to Macquarie's target price, it can rise by 11 percent now. The brokerage says that Airtel will benefit from strong earnings and de-leveraging.