Idea Cellular inches up after multiple block deals

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Idea Cellular rose 0.03% to Rs 170 at 14:16 IST on BSE after multiple block deals aggregating 18.21 lakh shares were executed in the counter on BSE.

A block deal of 10 lakh shares was executed at Rs 170.75 per share at 12:34 IST. Another block deal of 1.75 lakh shares was executed at Rs 170.20 per share at 13:42 IST. Another block deal of 1.30 lakh shares was executed at Rs 170.35 per share at 13:42 IST. One more block deal of 4.66 lakh shares was executed at Rs 170.05 per share at 13:42 IST. Another block deal of 50,050 shares was executed at Rs 170 per share at 13:42 IST.

The block deals constitute 0.05% of Idea Cellular's equity.

Meanwhile, the S&P BSE Sensex was down 76.28 points or 0.37% at 20,783.58.

On BSE, so far 19.70 lakh shares were traded in the counter as against average daily volume of 5.42 lakh shares in the past one quarter.

The stock hit a high of Rs 173.50 and a low of Rs 169 so far during the day. The stock had hit a record high of Rs 188.35 on 15 October 2013. The stock had hit a 52-week low of Rs 94.10 on 18 December 2012.

The stock had underperformed the market over the past one month till 18 December 2013, sliding 2.07% compared with the Sensex's 0.04% rise. The scrip had, however, outperformed the market in past one quarter, jumping 4.55% as against Sensex's 4.5% rise.

The large-cap company has equity capital of Rs 3317.82 crore. Face value per share is Rs 10.

Idea Cellular's consolidated net profit surged 86.5% to Rs 447.61 crore on 19% growth in net sales to Rs 6315.18 crore in Q2 September 2013 over Q2 September 2012.

Idea Cellular, part of the Aditya Birla Group, is the third largest listed wireless operator in India.

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