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NEW DELHI: From a low of Rs 2.83 apiece in February 2020 to a high of Rs 13.80 in January this year, shares of Vodafone Idea rallied a whopping five times to deliver 384 per cent returns to investors. But that rally is in danger now.
At Rs 12.05 apiece on Wednesday, the stock stared at a significant downside, as the narrowing of December quarter losses by the telecom major failed to enthuse Dalal Street. Analysts said while the extension of payment of AGR (adjusted gross revenue) dues was a short-term breather, the company’s survival hinges on quick capital infusion and tariff hikes or floor tariff implementation.