/ Idea Cellular Gains Nearly 12% ATC May Acquire Its Tower Business ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 15 March 2017


Third largest telecom company in the country, Idea Cellular Limited is on a jolly ride in the pre-lunch session on Wednesday. The stock touched its high of Rs 115.5 per share, up by Rs 12 per share or 12% on an intraday basis.

As per the rumours in the market, one of the world's largest independent tower companies, American Tower Corporation (ATC) is rushing to close the deal with Idea Cellular for acquiring its tower business.

BSE Telecom index is trading at 1299.84 levels, up by 21.66 points or 1.7%. Idea Cellular is contributing the most to the Telecom index's gains.

The stock is also the top gainer in the Nifty50 index.

An Aditya Birla company, Idea has over 9800 towers with 16549 tenants.


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