Karan Mittal of ICICI Direct told CNBC-TV18, "In Idea Cellular the price has run up quite significant in the last few weeks but having said that the performance was way above expectations. So, the kind of average revenue per minute (ARPM) expansion that Idea has exhibited, no one would have expected that and especially when they are following dual strategy of aggressive pricing in new circles and reducing the discount offers in the legacy circles but they have reported highest in the industry, ARPM expansion when you look at the blended ARPM. So, I do not think that performance would be priced in. I am sure the stock should appreciate more from hereon."
At 14:19 hrs Idea Cellular was quoting at Rs 158.25, down Rs 9.10, or 5.44 percent. It has touched a 52-week high of Rs 176.35.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
