ICICI Direct recommended hold rating on Idea Cellular with a target price of Rs 95 in its research report dated May 15, 2017.
ICICI Direct's research report on Idea Cellular
Revenues were lower at Rs 8126.1 crore vs. our estimate of Rs 8314.5 crore owing to data and non-data VAS revenues being lower than expected, impacted by a steeper decline in tariffs that were at 11.5 paisa, down 28% QoQ vs. our estimate of 12.8 paisa, hence leading to data revenues of Rs 1457.0 crore (down 15% QoQ).
We, however, maintain that near term tough times would remain and industry repair is at least a couple of quarters away. We maintain HOLD rating with a revised target price of Rs 95 on a DCF based methodology.
For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.