First user gain in 15 months lifts Vodafone Idea stock, but analysts cut price targets to Rs 5

NEW DELHI: Shares of debt-distressed telecom operator Vodafone Idea (Vi) rallied over 13 per cent in early trade on Wednesday in a weak market, as the telco reported monthly user gains for the first time in 15 months.

While that user gain held out a ray of hope for investors, analyst after analyst have downgraded the stock and cut price targets, as uncertainty loomed over its much-awaited fundraising plans.