Reuters Market Eye - Shares in Idea Cellular(IDEA.NS) fall 3.2 percent on profit-taking after rising 16.12 percent in November as of Thursday's close versus a gain of 3.6 percent in Nifty.
Dealers say the reduction in regulatory uncertainty after lower-than-expected receipts in the 2G auction helped the stock gain in November but it's priced in.
UBS said in a report on Thursday that as per the Telecom Regulatory Authority of India's (TRAI) September quarter revenue report, Idea lost market share in all circles.
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It remains to be seen whether Nifty will be able to break the 8,100 mark during October. With major events out of the way, the next trigger will be the Q2 FY16 earnings season which is expected to kick off next week. It is advisable for the investors to continue building their equity portfolio by utilising market volatility as an opportunity, writes Ambareesh Baliga. Full Article