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Vodafone Idea Ltd. shares continued their upward momentum for the third consecutive trading session on Thursday, rising over 4% amid strong investor participation. The telecom stock touched an intraday high of ₹9.45 per share on the Bombay Stock Exchange (BSE), marking a 4.88% increase from the previous close. Over the past three sessions, the stock has gained approximately 8.62%, reflecting renewed optimism surrounding the company’s strategic direction and operational efforts.
Elevated Trading Volumes Indicate Market Interest
Trading activity in Vodafone Idea remained robust throughout the session. On 23 October 2025, around 70 crore shares of the company changed hands, surpassing its one-week average of 67 crore shares. The surge in trading volumes suggests heightened participation from both retail and institutional investors, who appear to be responding to recent corporate developments and speculation around the company’s turnaround initiatives.
Focus on Indigenous Telecom Technology
According to a recent report by Moneycontrol, Vodafone Idea has initiated a significant shift in strategy by focusing on homegrown telecom technology. The company, backed by the Aditya Birla Group, is reportedly collaborating with Indian network equipment manufacturers — including Tejas Networks, HFCL, and HCL Technologies — as part of its broader plan to localise its telecom infrastructure and reduce operational costs.
The telecom operator has begun trialling 4G and 5G wireless equipment from Tejas Networks in one of its operational circles. Depending on the performance outcomes of these trials, Vodafone Idea may consider a full-scale commercial deployment of the equipment. Additionally, HCL Technologies has been chosen to supply Self-Optimising Network (SON) technology, which is designed to enhance network efficiency and reliability. Meanwhile, HFCL has secured an order to deliver IP/MPLS routers for Vodafone Idea’s 5G network expansion.
These collaborations represent a crucial step in the company’s ambition to localise its 4G and 5G ecosystem, streamline capital expenditure, and accelerate rollout timelines — a strategic move that aligns with India’s growing emphasis on indigenous technological solutions.
AGR Case Update and Legal Proceedings
In a parallel development, Vodafone Idea remains entangled in the long-standing Adjusted Gross Revenue (AGR) dues case. On 13 October 2025, the Supreme Court of India deferred the hearing of the telecom operator’s plea to 27 October 2025. The company has challenged the Department of Telecommunications (DoT) over its demand for additional AGR dues for the financial years up to FY2016–17.
Vodafone Idea’s petition seeks to quash these additional claims, arguing that they are inconsistent with the Supreme Court’s earlier judgment. While the deferral offers temporary relief, the outcome of the case remains crucial for the company’s financial stability and future growth prospects.
Vodafone Idea shares have exhibited steady gains in recent months, signaling improving investor confidence. Over the past month, the stock has advanced 8%, while in the last three months, it has surged nearly 26%. On a year-to-date (YTD) basis, the shares have appreciated by 18%, and over the past year, they have gained 14%.
However, the company’s long-term performance tells a different story. Over a five-year period, Vodafone Idea’s stock has increased by only 4%, highlighting that despite short-term rallies, sustained profitability and growth remain challenges for the telecom operator.
Strategic and Market Outlook
The company’s pivot toward domestic technology vendors is seen as a positive step in the context of India’s push for self-reliance (Atmanirbhar Bharat). Partnering with local players such as Tejas Networks, HFCL, and HCL Technologies could enhance operational flexibility and reduce dependency on global equipment suppliers, many of whom come with higher costs and logistical complexities.
Nonetheless, analysts continue to view Vodafone Idea’s turnaround as a long-term effort, given its high debt levels and ongoing AGR-related liabilities. While the stock’s short-term rally reflects improving sentiment, the company’s future trajectory will likely depend on its ability to secure fresh funding, expand its 4G footprint, and successfully roll out 5G services at competitive costs.
Vodafone Idea’s recent share price rally underscores the market’s growing optimism about its strategic initiatives and renewed focus on domestic technology partnerships. The surge in trading volumes indicates that investors are closely monitoring every development related to its network expansion and legal proceedings.
However, the company continues to face structural challenges, including heavy debt, regulatory uncertainties, and intense competition in India’s telecom sector. Its progress on these fronts will determine whether the current upward trend can translate into sustained long-term growth.
