Stock market analyst Mitesh Thacker has maintained 'buy' rating on Idea Cellular Ltd stock above Rs 55.75 with target of Rs 60-62.

According to analyst, the investors can hold the stock with stop loss below Rs 54.50.

Today, the stock of the company opened at Rs 55.05 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 84.85 and a low of Rs 48.05 on BSE.

Current EPS & P/E ratio stood at 2.89 and 19.21 respectively.

Idea Cellular stated that it projects to begin 3G services during the third quarter of 2010-11.

Aditya Birla Group Company bagged 11 circles for 3G services comprising Maharashtra, Gujarat, Andra Pradesh, Madhya Pradesh, Himachal Pradesh, UP (East and West), Punjab, Haryana and Kerala.

On June 22, the company has rolled out a breakthrough scheme in the prepaid section of cellphone services.

Titled 'Reserve Talktime', the novel plan will permit 6.5 million Idea subscribers in Andhra Pradesh to maintain a 'Balance in Reserve' on their prepaid account.

The new idea in mobility, introduced for the initial time in the country in Andhra Pradesh circle, will permit prepaid subscribers to make a Reserve account of Talktime, and use it afterward when they have need of it.

It provides complete expediency to clients to get talktime when they require it the most.