Goldman Sachs has reiterated its ‘sell’ rating on Vodafone Idea following a weaker-than-expected second quarter, setting a target price of Rs 2.40, implying a 66% downside from Tuesday’s BSE closing price. The brokerage firm also highlighted concerns over the company’s market share, free cash flow, and lagging capital expenditure (capex), despite being well-funded in the short term.
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