Vodafone Idea share price: Shares of beleaguered telecom player Vodafone Idea are in focus on Tuesday ahead of the December quarter results announcement later in the day.
Vodafone Idea Q3 results will be announced on January 27. Ahead of the earnings announcement, Vodafone Idea’s share price traded in a tight range, hitting a low of ₹9.71 and a high of ₹10. However, 2026 has started on a weak footing for the telecom stock as it has lost almost 15% on a month-to-date (MTD) basis.
This year’s selloff came on the heels of a 34% rise in 2025 after the company received a major relief from the Indian government on its adjusted gross revenue (AGR) dues. Earlier this month, the company announced that the government has capped annual payouts to clear past dues at ₹124 crore over the next six years, easing near-term cash flows.
Between March 2032 and March 2035, the yearly outgo will be trimmed to ₹100 crore, Vodafone Idea said in a stock exchange filing, citing a communication received from the Department of Telecommunications (DoT). It added that the remaining adjusted gross revenue (AGR) dues shall have to be paid in equal instalments annually over six years starting March 2036.
Vodafone Idea Q3 preview
Despite this relief, analysts expect a muted performance from Vodafone Idea in the December quarter of the fiscal year 2025-26 (Q3FY26) with flattish revenue growth likely on subscriber losses offset by growth in the average revenue per user (ARPU).
Analysts at Kotak Institutional Equities (KIE) estimate a 1.3% year-on-year (YoY) rise in revenue to ₹11,261.1 crore, with losses seen rising to ₹6763.9 crore during the quarter under review. The brokerage models EoP subscriber base to decline by 4 million QoQ (versus 1 million losses in 2QFY26) to 192.7 million. It sees ARPU to increase marginally to ₹169/month ( ₹167/month in 2QFY26) on improved subscriber mix.
Nuvama Research also sees losses widening amid a mere 1.1% YoY growth in the overall revenue from operations. Progress on 5G rollout, fund-raise and AGR plea will be key monitorables.
How to trade Vodafone Idea shares ahead of Q3?
Amid these expectations, analysts advise caution while approaching the Vodafone Idea stock ahead of the earnings. Technical indicators signal the risk–reward ratio remaining skewed decisively to the downside.
Harshal Dasani, Business Head at INVasset PMS, said investors need to approach Vodafone Idea with caution rather than expectation; the stock has seen bouts of speculative interest ahead of results in the past, but the underlying fundamentals remain fragile.
The key variables to watch this quarter are not revenue growth or subscriber additions, but cash flow visibility, funding clarity, and commentary on dues and capex sustainability, he said. “Without a concrete capital infusion roadmap, quarterly operational improvements offer limited comfort.”
He added that from a positioning standpoint, this is not a results-driven trade. Any sharp move post-results is likely to be sentiment-led rather than fundamentals-backed, believes the analyst.
Meanwhile, on technical parameters, Vodafone Idea Limited has broken below its critical support at 10.47, confirming a clear structural failure on higher timeframes, opined Anshul Jain, Head of Research at Lakshmishree Investments.
The stock’s inability to retest the prior swing high near 13.1 reflects fading demand and loss of upside momentum, he said, adding that the current breakdown has trapped recent longs, triggering fresh liquidation pressure.
“Price structure across daily and weekly charts remains weak, with moving averages turning into overhead resistance. A sustained move below 10.47 opens the path toward the 50-week EMA near 9.37, which is the next immediate downside. If selling pressure persists and this level fails to hold, a deeper extension toward 8.55 becomes likely,” opined Jain.
He advised using interim bounce as a sell-on-rallies opportunity until the stock reclaims key broken levels with volume, as risk-reward remains unfavourable.
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions.
