Idea Cellular gains after issuing positive outlook

Idea Cellular rose 4.14% to Rs 104.50 at 15:18 IST on BSE, after the company said in an analysts meet presentation that the company is gaining both revenue and traffic share in both mobile voice and data segments.

Meanwhile, the S&P BSE Sensex was up 102.12 points or 0.39% at 26,505.08

On BSE, so far 11.73 lakh shares were traded in the counter as against average daily volume of 11.13 lakh shares in the past one quarter. The stock hit a high of Rs 105.10 and a low of Rs 101 so far during the day. The stock had hit a 52-week low of Rs 96.65 on 24 June 2016. The stock had hit a 52-week high of Rs 186.50 on 22 July 2015. The stock had underperformed the market over the past 30 days till 27 June 2016, falling 11.39% compared with 0.94% fall in the Sensex. The scrip also underperformed the market in past one quarter, declining 6.3% as against Sensex's 6.03% rise.

The large-cap company has equity capital of Rs 3600.80 crore. Face value per share is Rs 10.

Idea Cellular said in an analysts meet presentation submitted to the stock exchanges after market hours yesterday, 27 June 2016 that the company is gaining both revenue and traffic share in both mobile voice and data segments. The company further said that it is in the midst of building a wide and deep mobile broadband infrastructure. The company further said that there is a large potential for data penetration in India. The company also said that there is large headroom for new mobile subscriber additions in India

Idea Cellular's consolidated net profit fell 38.9% to Rs 575.63 crore on 12.7% growth in net sales to Rs 9462.57 crore in Q4 March 2016 over Q4 March 2015.

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

Powered by Capital Market - Live News