Ambareesh Baliga, Independent Market Expert is of the view that one can book profits in Idea Cellular.
Ambareesh Baliga, Independent Market Expert told CNBC-TV18, "For Idea Cellular, clearly we were talking about this sort of a possibility of merger with Vodafone for the past couple of weeks and now these rumours seem to be nearly getting confirmed because of which we have seen this great run up from the Rs 70-72 levels to nearly Rs 110."
"However, at these levels it seems that this news is more or less fully discounted. In case this deal doesn’t go through, then possibly we could see a major crack or if the deal is not too favourable, is not seen too favourable for the Indian shareholders of Idea. So, I think even that is a risk. So, those possibly who are holding it patiently, I think it is a great time to book out," he said.The Great Diwali Discount!
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First Published on Jan 31, 2017 03:53 pm