Idea to outperform market in next 15 days: Morgan
Reuters Market Eye - Idea Cellular's share price will rise relative to the Sensex and the Nifty over the next 15 days on the back of "positive" October-December earnings, Morgan Stanley said in a note on Friday.
Idea will post results on Tuesday, and Morgan Stanley expects a 4 percent sequential traffic growth and 1 percent rise in average revenue per minute quarter-on-quarter (QoQ).
That should translate into a 7.5 percent QoQ growth in EBITDA and 21 percent growth in profit after taxes, Morgan Stanley estimates.
Idea shares are up 1.4 percent at 115 rupees at 12:45 p.m.
(Reporting by Manoj Dharra)
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article