Idea Cellular can test Rs 104: Anu Jain

Idea Cellular can test Rs 104, says Anu Jain, Sr. Vice President - IIFL Private Wealth Management.

Jain told CNBC-TV18, "I like the way Idea has moved up. It could hold on and pull back to Rs 96 which has been close to its 20 day and 50 day moving average. I think if it were a bad day I would keep a stop loss close to Rs 94."

She further added, "On a good day like this I think closer to Rs 95 should be where my stop loss would be placed. I think for a trading perspective it’s moving close to Rs 100. If it can manage to hold on there then we look at higher targets of Rs 104. But for trading perspective, for right now, I think a 4% kind of a move on the target is looking good."

The company touched its 52-week high Rs 103.65 and 52-week low Rs 55.65 on 06 Sep, 2011 and 28 Feb, 2011, respectively. Currently, it is trading -4.68% below its 52-week high and 77.54% above its 52-week low. Market capitalisation stands at Rs 32,666.36 crore.

The company's trailing 12-month (TTM) EPS was at Rs 2.12 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 46.60. The latest book value of the company is Rs 37.16 per share. At current value, the price-to-book value of the company was 2.66