Vodafone Idea Q3 Results Review — Operationally Weak Says Motilal Oswal And Downgrades The Stock To 'Sell'

Vodafone Idea's continued subscriber loss remains a key concern. Despite accelerated network investments in the interim, the brokerage believes regaining subscribers will remain a tall ask for Vodafone Idea as its peers, with superior free cash flow generation and deeper pockets, can keep customer acquisition costs higher.