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Last Updated : May 16, 2017 04:30 PM IST | Source: Moneycontrol.com

Hold Idea Cellular; target of Rs 95: ICICI Direct

ICICI Direct recommended hold rating on Idea Cellular with a target price of Rs 95 in its research report dated May 15, 2017.

 
 
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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).


Outlook


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.


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First Published on May 16, 2017 04:30 pm
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