Nomura India upgraded Vodafone Idea's stock to 'Neutral' and raised its target price by 131% to Rs 15 per share.

Nomura India upgraded Vodafone Idea's stock to 'Neutral' and raised the target price by 131% to Rs 15 per share, citing Q4 results that showed a moderating pace of subscriber loss and a modest uptick in average revenue per user (ARPU). The brokerage said the outlook for the industry has improved with all players aligned on the need for ARPU hikes and the industry moving towards a 3-private player market.