Profit booking may see in Idea Cellular at Rs 100: Tulsian

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Profit booking may see in Idea Cellular at Rs 100: Tulsian

Profit booking may see in Idea Cellular at Rs 100, says SP Tulsian, sptulsian.com.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by SP Tulsian See what other Experts & Brokerages are saying about Idea Cellular See messages about Idea Cellular

Profit booking may see in Idea Cellular at Rs 100, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "I am unable to accept the upmove in Idea Cellular because you have the cancellation of 9 licenses whether they are of loss making circles or not. It is clear win for Bharti Airtel but sometime you are unable to understand or because Idea will have to get this licenses replenished in the revised auction schedule which is likely to take place and that is going to happen at higher price and at higher rate. And maybe the number portability which the market maybe taking a call that they could be beneficiary because of that ultimately people moving from other subscribers to this company."

He further added, "I am unable to accept the up move in Idea and maybe profit booking may come in level close to about Rs 100 because we have been seeing stock rule technically strong for the last week or so and for last couple of months it has been moving in a range of Rs 84 to Rs 100 or so."