Citi sees 76% upside in Vodafone Idea as govt hikes stake, also bullish on Indus Towers

Citi Research reaffirmed its buy/high-risk rating on Vodafone Idea after the government raised its stake to 48.99%, easing financial strain. However, VI still faces capital and network expansion challenges. Indus Towers is expected to benefit from VI’s revival, with Citi maintaining a buy rating and projecting strong long-term growth.