Moneycontrol
Sep 15, 2017 11:58 AM IST | Source: Moneycontrol.com

Idea Cellular down 1%; HSBC maintains reduce rating, target Rs 70

The company’s standalone tower assets sale could be at a discount, said HSBC.

 
 
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Share price of Idea Cellular slipped 1.65 percent intraday Friday as HSBC has maintained reduce rating with a target of Rs 70 per share.

The company’s standalone tower assets sale could be at a discount, said HSBC.

"The leverage remains a concern and net debt/EBITDA is seen at 6.4 times for 2018. Also the benefits of synergy from merger with Vodafone is a key medium-term catalyst for the firm," it added.

Also Read ATC, Brookfield front-runners for Idea-Vodafone tower assets: Sources 

The stock has given negative returns of 22 percent in the last six months.

At 11:46 hrs Idea Cellular was quoting at Rs 80.50, down Rs 1.25, or 1.53 percent on the BSE.

The share touched its 52-week high Rs 123.75 and 52-week low Rs 66 on 20 March, 2017 and 09 November, 2016, respectively.

Posted by Rakesh Patil
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