Idea Cellular gains on increasing monthly rentals by Rs 50

Idea Cellular is currently trading at Rs. 138.60, up by 1.40 points or 1.02% from its previous closing of Rs. 137.20 on the BSE. The scrip opened at Rs. 138.50 and has touched a high and low of Rs. 139.40 and Rs. 138.20 respectively. So far 62,000 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 188.35 on 15-Oct-2013 and a 52 week low of Rs. 124.40 on 10-Jun-2013. Last one week high and low of the scrip stood at Rs. 141.90 and Rs. 132.00 respectively. The current market cap of the company is Rs. 46,016.00 crore. The promoters holding in the company stood at 45.81% while Institutions and Non-Institutions held 21.92% and 32.27% respectively. Idea Cellular has hiked the monthly rentals of its post-paid customers by Rs 50 effective from the June bill cycle. The company operates across the nation with presence in all the 22 circles and cash-strapped telcos have been hiking rates on a regular basis. In the March quarter, the company’s average revenue per user (Arpu), which had been declining for a long period, went up to Rs 170 in FY 2014 as against Rs 157 last fiscal, an increase of 8.3%. However, the company saw a 2.8% decline in average revenue per minute (ARPM) to 43.6 paise from 44.9 paise a year ago. 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.