Sell Idea Cellular With Stop Loss Of Rs 70

Sell Idea Cellular With Stop Loss Of Rs 70Technical analyst Anil Singhvi maintained 'sell' rating on Idea Cellular Limited stock with a target of Rs 64.

According to analyst, the investors can sell the stock with a stop loss of Rs 70.

Mr. Singhvi added that it's better to sell the stock in today's session as there are full chances of decline.

Today, the stock of the company opened at Rs 66.25 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 79.90 and a low of Rs 49.80 on BSE.

Current EPS & P/E ratio stood at 2.70 and 24.43 respectively.

Idea Cellular has registered a consolidated net profit of Rs 243.05 crore during the third quarter, which completed on December 31, 2010.

The telecom major registered a net profit of Rs 170.11 crore during the same period of 2009.

In a declaration, the company said, "Figures for the current period are not comparable with that of the corresponding period due to the merger of Spice Communications , effective March 1, 2010, prior to which it was a joint venture."

Idea's overall income remained at Rs 3955.61 crore for the third quarter as compared to Rs 3149.47 crore for the corresponding period of 2009.