Buy Idea Cellular To Achieve Short-Term Target Of Rs 105: Abhishek Jain, Stocksidea.com

IdeaIn its latest research report, Abhishek Jain, stocksidea. com, said that Idea Cellular, which has been consolidating between Rs 75-85 level, can give good returns in the short term.

The report further stated that, if the counter is successful to breach Rs 92 levels, then it will create a huge breakout.

Abhishek Jain has advised investors to hold the stock to achieve a target price above Rs 105.

Furthermore, the firm has suggested a support level for the scrip at Rs 67.

The shares of the company on Friday (Sep 04) closed at Rs 80.35 on the Bombay Stock Exchange (BSE). The total volume of the shares traded was 793,689. The stock hit an intraday high of Rs 80.65 and a low of Rs 78.30 on BSE.

Current EPS and P/E of the stock stood at 3.38 & 23.77 respectively. The share price has seen a 52-week high of Rs 91.70 and a low of Rs 34.05 on BSE.

Mr. Jain also said that the stock is looking strong technically. Indicators are also showing good up move for next few days. Traders can buy cash and future for short term.

Idea Cellular has rolled out new tariff plans for new as well as subsisting clients in TamilNadu and Chennai. The new plans permits the subscribers to make local calls to any mobile in India @ 50 paise/minute and STD calls @ 75 paise/minute. Idea has launched two special vouchers worth Rs 37 (with Rs 15 talktime and lifetime validity) and Rs 95 (with Rs 80 talktime and lifetime validity) for novel subscribers and Rs 41 voucher having 12-month validity for subsisting clients to avail this offer.

To counter the cellular rivalries, Idea Cellular, on Aug 17, has announced novel tariff plans for its subscribers in Punjab.

Idea Cellular Punjab has announced new tariff plan where subscribers have to recharge with Rs 107, and in turn, they will get reduced local and STD calls.

Under this plan, users will get local calls at 60 paise per minute whilst STD calls at Re 1/minute.