“Piyush Pandey of Centrum India maintains a neutral rating on Vodafone Idea, setting a target price of ₹10 per share. He believes much of the optimism regarding government relief is already reflected in the stock's recent run-up. While the relief provides breathing room, significant challenges remain, including hefty spectrum dues and the need for substantial fund-raising and potential tariff hikes. Future stock performance hinges on the company's execution in raising capital, ramping up 4G/5G capex, and stemming customer losses, which could act as triggers for re-rating.”