Idea Cellular gains after bulk deal

Idea Cellular rose 2.52% to Rs 69.20 at 13:12 IST on BSE after a bulk deal of 10 lakh shares was executed on the scrip at Rs 68.95 per share at 11:15 IST on BSE.

Meanwhile, the S&P BSE Sensex was up 53.10 points or 0.19% at 27,310.74

Bulk deal boosted volume on the scrip. On BSE, so far 24.85 lakh shares were traded in the counter as against average daily volume of 6.67 lakh shares in the past one quarter. The stock hit a high of Rs 69.80 and a low of Rs 66.70 so far during the day.

The stock had hit a 52-week high of Rs 128.05 on 28 April 2016. The stock had hit a 52-week low of Rs 66 on 9 November 2016. The stock had underperformed the market over the past 30 days till 18 January 2017, sliding 7.85% compared with the 3.61% rise in the Sensex. The scrip also underperformed the market in past one quarter, declining 13.79% as against Sensex's 3.10% decline.

The large-cap company has equity capital of Rs 3601.03 crore. Face value per share is Rs 10.

Idea Cellular's consolidated net profit slumped 88% to Rs 91.46 crore on 8.05% rise in total income to Rs 9535.01 crore in Q2 September 2016 over Q2 September 2015.

Idea Cellular is one of the leading telecom operators in India. It is a part of the Aditya Birla Group.

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