Naveen Kulkarni of PhillipCapital does not think Idea Cellular and Vodafone will bid aggressively for the 2100 MhZ band. Bharti will be active in the space, he adds.
The Cabinet on Wednesday fixed a base price of Rs 3705 crore per Mhz for the 2100 Mhz band for the upcoming spectrum auctions. The Cabinet accepted the Telecom Commission's recommendation to price the 3G spectrum at that price, 36 percent higher than suggested by the Telecom Regulatory Authority of India (Trai).
Naveen Kulkarni, co-head of research at PhillipCapital says the price ofcourse is high, but it is on expected lines.
He does not think Idea Cellular and Vodafone will bid aggressively for the 2100 MhZ band. Bharti will be active in the space, he adds. "Idea has a huge retention bidding coming up in the 900 MhZ band in around 11 major circles," he explains.
Besides the 2100 Mhz band, the government will auction 103.75 Mhz of spectrum in the 800 Mhz band, 177.8 Mhz in the 900 Mhz wavelength and 99.2 Mhz of 1,800 Mhz spectrum, in an auction.
He has a buy on Idea Cellular and Bharti Airtel.
Stay tuned for more..
Idea Cellular stock price
On January 29, 2015, at 09:20 hrs Idea Cellular was quoting at Rs 162.60, down Rs 3.4, or 2.05 percent. The 52-week high of the share was Rs 177.30 and the 52-week low was Rs 125.10.
The company's trailing 12-month (TTM) EPS was at Rs 6.89 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 23.6. The latest book value of the company is Rs 44.09 per share. At current value, the price-to-book value of the company is 3.69.
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