April 30, 2018 / 4:27 AM / 3 months ago

BUZZ-India's Idea Cellular gains as March-qtr loss smaller than expected

** Shares of India’s third-biggest telecoms carrier Idea Cellular Ltd rise as much as 4.4 pct to 71.85 rupees in biggest intraday pct gain since Jan. 5

** Company’s March-qtr loss widens to 9.62 bln rupees ($144.4 mln), but was smaller than analysts’ average estimate of 14.96 bln rupees

** Motilal Oswal analysts write that EBITDA surprised positively, network and spectrum charges were down q/q

** Jefferies says it was a muted quarter in which multiple one-offs lead to reported beat; retaining “underperform” with PT of 68 rupees

** Of 24 brokerages that cover stock, eight rate “buy” or higher, six “hold” and 10 “sell” or lower; their median PT is 91 rupees

** Up to Friday’s close, stock had fallen 36 pct this year ($1 = 66.6100 Indian rupees)

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