Mobile

Idea Cellular, an Aditya Birla group subsidiary, has informed that the company will launch its GSM mobile services in Bihar and Jharkhand on October 1.

The company will become the fifth player in mobile telephony in Bihar and Jharkhand to start its services, after Reliance (which has both CDMA and GSM mobile services) along with BSNL, AirTel, and Aircel.

The company will rollout services to more than 2,500 towns and villages through its 880 towers in Bihar & Jharkhand, for which it has tied up with 18,000 retail partners to offer its services.

In addition, Idea also plans to set up a network of customer touch points besides customer care units in both the states. The company aims to gradually expand its reach to 16,500 towns and villages through its 3000 mobile towers by end of this fiscal.

By entering the two states, Idea will make its presence in 15 out of 22 circles, which is almost 80% of national mobile telephony market in terms of coverage area.

Recently, International Finance Corporation (IFC), the private sector funding arm of the World Bank has approved a $100 million (Rs 460 crore) loan to Idea Cellular in order to strengthen its national long distance telephony network.

A leading technical analyst expects that the shares of Idea Cellular may prove as multi-bagger stock in coming years as the company now-a-days has been making good moves such as buyout of Spice, launching of services in Mumbai etc.

As per view, the stock which is presently ruling near its 52-week-low, offers a good buy opportunity for long term investors. Investors, who are interested in making good profit, may consider entry at present level, but only keeping investment horizon of approximate 3-4 years.

# posted by Creative Designs @ 2:28 AM