UBS India positive on telecom space

Gautam Chhaochharia, Head of Mid-Cap Research, UBS India is positive on the telecom space.

Chhaochharia told CNBC-TV18, "We have been overweight on telecom as a space for a while and Idea Cellular also has been a buy. It is just kind of tactically moving around within the telecom space, so earlier we are looking at only at Bharti Airtel as a play but with post recent operating trends, especially with where the valuations were we felt that Idea looked attractively valued and therefore we put that in. However, we remain broadly positive on the entire telecom space including Bharti Airtel."
At 10:45 hrs Idea Cellular was quoting at Rs 135.65, up Rs 3.05, or 2.30 percent. It has touched a 52-week high of Rs 135.80.
The company's trailing 12-month (TTM) EPS was at Rs 2.28 per share. (Mar, 2013). The stock's price-to-earnings (P/E) ratio was 59.76. The latest book value of the company is Rs 41.40 per share. At current value, the price-to-book value of the company was 3.29.