ICICI Direct recommended hold rating on Idea Cellular with a target price of Rs 105 in its research report dated February 14, 2017.
ICICI Direct's research report on Idea Cellular
We await further details on the prospective merger and subsequent equity infusion, which could be made by Idea promoters if they stick to fundamental premise of equal rights for Aditya Birla group and Idea in the combined entity. We maintain HOLD with a revised target price of Rs 105 on a DCF based methodology.
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