Vodafone Idea needs to raise operational expenses savings target: Analysts

As shares of Vodafone Idea, the country’s second-largest telecom operator, continue to fall on the bourses, analysts say the firm’s operational expenses (opex) savings target will have to be raised than the guided Rs 8,400 crore as cash losses remain at elevated levels.

The firm hired one of the Big Four consultants to take a re-look at its opex and drive additional cost savings. Vodafone Idea shares fell for the second consecutive day on Tuesday, ending the day’s trade at Rs 6.5, down 3.7 per cent. Reacting to the weak June quarter numbers, the firm’s shares tanked 27 per cent on Monday, eroding over Rs 7,000 crore from its market valuation.