Idea Cellular rings loud on the bourses

Idea Cellular is currently trading at Rs. 110.45, up by 2.05 points or 1.89% from its previous closing of Rs. 108.40 on the BSE.

The scrip opened at Rs. 109.00 and has touched a high and low of Rs. 110.90 and Rs. 108.40 respectively. So far 55759 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.90 on 17-Apr-2015 and a 52 week low of Rs. 97.55 on 10-Feb-2016.

Last one week high and low of the scrip stood at Rs. 112.10 and Rs. 103.60 respectively. The current market cap of the company is Rs. 39784.61 crore.

The promoters holding in the company stood at 42.24% while Institutions and Non-Institutions held 29.43% and 28.34% respectively.

Idea Cellular in collaboration with Aditya Birla Nuvo has incorporated a company named Aditya Birla Idea Payments Bank. Idea Cellular will hold up to 49 per cent equity capital in it and AB Nuvo will hold the remaining 51 per cent.

This follows the in-principle approval issued by the RBI to AB Nuvo, promoter and single largest shareholder of Idea Cellular, to set up a payments bank. Aditya Birla Nuvo had applied for payments bank license on February 2, 2015.

Idea Cellular, an AV Birla group company, provides Global System for Mobile communications (GSM)-based wireless service at the pan-India level, it is present in all 22 telecom circles.