Vodafone Idea Ltd.'s target price was slashed by brokerages as they factored in the negative impact of Supreme Court dismissing the telecommunication companies' plea to reconsider calculation of adjusted gross revenue dues. Citi Research and Nuvama cut Vodafone Idea's target price.

The sharp 20 per cent correction in the stock price, more or less captures the value of the incremental liability, over and above what the Street was expecting, Nuvama said in a note.

While Nomura has upgraded shares of Vodafone Idea, Goldman Sachs still has a sell rating with a ₹2.5 price target.

The lowest price target has been given by Goldman Sachs, with a 'Sell' rating, as it sees no government support/relief in AGR liabilities

Vodafone Idea shares plunged 20% after the Supreme Court rejected its plea to recalculate AGR dues. Analysts believe the company will need to raise funds to repay the dues. Competition and tariff hikes may further impact Vodafone Idea's survival.