Idea Cellular shares up 8 percent


Idea Cellular shares up 8 percent
Bangalore: Idea Cellular stock was among the top gainer by rising eight percent on a day when the Sensex in the red. After opening trade at 57, the stock touched an intra-day high of 62.45, before closing the day at 62, up 7.64 percent. During the day, 5,432,679 shares of Idea Cellular were traded in the market with the current P/E ratio of the stock at 17.42. The 52 week stock price chart is on the left. Idea Cellular is a global system for mobile communication (GSM) operator in India. It offers mobile services to varied segments of mobile users. The Company provides services in Delhi, Andhra Pradesh, Gujarat, Haryana, Kerala, Madhya Pradesh and Uttar Pradesh (West). The company operates in two business segments: mobility services and long distance (LD). The company's subsidiaries include Aditya Birla Telecom, Idea Cellular Services, Idea Cellular Infrastructure Services and Idea Cellular Towers Infrastructure. During the fiscal year ended March 31, 2009, the company has acquired from MCorp Global Communications their entire 40.8 percent stake in Spice Communications. Out of the 33 analysts following the stock currently, the consensus recommendation is underperform with 12 analysts suggesting the stock will underperform. Franklin India Bluechip Fund holds the highest number of shares in Idea Cellular with 5,000,000 shares in its portfolio.