Vodafone Idea Shares Soar 14%; Citi Maintains 'High-Risk Buy' Rating

• Vodafone Idea shares surged 14% after brokerages highlighted the positive impact of the government's AGR relief package.
• Citi stated the AGR relief strengthens Vodafone Idea's ability to pursue an aggressive three-year investment and growth strategy, including a planned ₹25,000 crore debt raise.
• Vodafone Idea plans to invest ₹45,000 crore over three years, aiming to triple cash EBITDA, though Citi flags ambitious revenue CAGR.
• Better visibility on Vodafone Idea's network investments and balance sheet stability is expected to benefit Indus Towers, driving new tenancies and reducing receivable risks.
• Key catalysts include successful bank fundraising and clarity on AGR reassessment, potentially leading to Indus Towers resuming shareholder payouts.

Why It Matters: Vodafone Idea shares jumped on AGR relief, with Citi maintaining a 'high-risk buy' due to improved outlook.