Vodafone Idea Share: Vodafone Idea shares rose 33% in September, now the target is above Rs 10

News Topical, Digital Desk : Vodafone Idea shares are experiencing a strong rally. The stock jumped 11% to ₹8.71 on Friday as hopes of relief in the AGR case grew in the Supreme Court. The government made it clear to the court that it is not opposing the company's petition. This confidence has driven the stock up 33% so far in September, and technical charts indicate that it has room for approximately 26% more upside.

Big hope in the AGR case - The next hearing date for Vodafone Idea's AGR (Adjusted Gross Revenue) case in the Supreme Court has been set for September 26th.

The government stated in court that it is not opposing the company's petition and that a solution must be found. This stance has raised investors' hopes that the debt-ridden telecom company may receive relief. Government Stake - In March 2025, the government acquired a stake in Vodafone Idea in exchange for spectrum dues of ₹36,950 crore. Earlier, in 2023, the government also acquired a 33% stake in the company in exchange for statutory dues of ₹16,000 crore. Currently, the government is the company's largest shareholder, holding over 49%. AGR Dues - The company's total AGR liability by the end of the June 2025 quarter is approximately ₹75,000 crore. Of this, Vodafone Idea has challenged additional AGR demands in the Supreme Court, amounting to approximately ₹9,450 crore. Of this, ₹5,606 crore is from before FY17. Share Price Movement - On Friday, the stock jumped 11% to ₹8.71 and later traded at ₹8.76. With this gain, the stock has gained 33% so far in September. According to technical charts, the stock crossed the 200-DMA (₹7.54) on September 12, a first in more than a year. This level has now become a key support for the stock. 

Technical Outlook - Experts on CNBC Awaaz stated that the current price is ₹8.70. The potential target is ₹11.03 (approximately 25% upside). The support level is ₹7.26. Resistance levels are ₹9.55, ₹9.80, ₹10.05, and ₹10.35. Analysts say the trend will remain positive as long as the stock stays above ₹8.50. A close above ₹8.26 will confirm a weekly breakout. In the medium term, the stock could reach its 100-WMA (₹11.03).
 

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