Another target achieved (almost) - IDEA CELLULAR

On July 21st I had recommended IDEA CELLULAR at 65 and had sent out a call update on Sep 9th. Below is the update. IDEA touched 80 today, which is 23% above my recommended entry price and this was achieved in under 2 months.

 

Book 50% profits at 80 and hold the rest for a target of 85 to be reached shortly. I hope powerfulpicks is helping you to make money.

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From: powerfulpicks [mailto:powerfulpicks@gmail.com]
Sent: Thursday, September 09, 2010 4:00 PM
To: Basu, Anupam
Subject: [powerfulpicks] Call Update: Idea Cellular (on target)

 

powerfulpicks call update: On July 21st, I had written:

"I dont believe in rumors, but recently one of my friends said that Mukesh Ambani has recently taken a fancy for this ad (IDEA ad, featuring Abhishek Bachhan), since TELECOM is looking interesting to him and IDEA is looking IDEAL. The above statements are not even rumors, they may be even guesses by some of my friends....But just note these hard facts: ABG Group company IDEA sold a stake to Axiata, formerly Telekom Malaysia, at around Rs 157 a share in June 2008. Axiata currently holds around 23% in Idea, 47% is held by promoters, while the rest is with institutional and retail investors. CURRENTLY IDEA is around 65-66.  If a stake sell happens in IDEA , just imagine what will happen to its price?...Wont it be prudent to accumulate a small quantity, just 100-200 shares and just keep them for next 2 years, without a fuss? Even if a stake sell does not happen, IDEA will move back to 90 shortly. So one will still be profitable." Script touched 77.65 today, up by 17.7% after my call 1.5 months back.

 

Posted By powerfulpicks to powerfulpicks at 9/09/2010 03:59:00 PM