Idea Cellular may slip to Rs 110-115: Ambareesh Baliga

Ambareesh Baliga, Market Expert told CNBC-TV18, "For the last, close to a year whenever Bharti Airtel and Idea Cellular were shooting up between I was saying that Reliance Jio is the biggest risk for both these companies. We should clearly remember that Reliance Jio is an investment mode. At least for the next 18-24 months they are not looking at the bottom-line. Whereas Bharti and Idea valuations depend on the bottom-line, which will suffer because of the margin pressures. So for the next possibly 12-18 months you will see a decent amount of pressure on both these stocks. "I will not be surprised if you see Idea at about Rs 110-115 and Bharti at about Rs 280-285. Even at these levels one should look at possibly exiting but then if you are talking of very long-term in telecom that is a space to be in. You will get decent opportunities to get into Bharti in the next 12-15 months at much lower levels," he added.