Moneycontrol
Last Updated : Jan 24, 2018 02:50 PM IST | Source: CNBC-TV18

Hold Idea Cellular, says Shahina Mukadam

According to Shahina Mukadam, Independent Market Expert one may hold Idea Cellular.

CNBC TV18 @moneycontrolcom

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "In Idea Cellular in the last two to three quarters the losses are increasing. I think this will continue on for maybe another one or two quarters, couple of quarters till the benefit from the merger with Vodafone start kicking in. So, I think it is a long painful journey and taking a short-term call on this stock, I don’t think is very advisable."

"I think the numbers were very disappointing on almost every front. It is showing the pressure because of competition from Reliance Jio. I don’t think these things will get sorted out in the near term."

"At the same time, I personally hold the stock. I do believe that the merger with Vodafone will result in a lot of cost savings in the medium to longer term as well as I think in terms of new capex requirements and investments. So, I continue to hold the stock. I would say if the investor is a longer term holder, can continue to hold the stock. This stock is very weak as of now but keep a stoploss of somewhere closed to Rs 92 or thereabouts and target of Rs 110," she added.
First Published on Jan 24, 2018 02:49 pm
Sections
Follow us on
Available On