Idea shares fall after Q3 earnings disappoint
Reuters Market Eye - Shares in Idea Cellular Ltd(IDEA.NS) shares fall as much as 2.6 percent after the mobile phone carrier posted weaker-than-expected October-December net profit.
Morgan Stanley says it could lower EBITDA estimates for Idea in fiscal 2013 by around 4 percent.
The investment bank adds Bharti Airtel Ltd (BRTI.NS) could also miss EBITDA estimates for the October-December quarter.
Shares in Idea Cellular were down 1.32 percent at 1:49 p.m., while Bharti Airtel shares fell 1.6 percent.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- Fears for tough penalties grow as India cleans up business
- India warns Pakistan of more pain in Kashmir fighting
- Giving pricey hepatitis drug to prisoners may be financially wise
- No fear of deflation: Indian consumers respond to softer oil, food prices
- Yahoo CEO Marissa Mayer parries activist investor attacks
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article