Idea Cellular hits on an 'idea'

Idea Cellular is doing well today, up currently almost 2% at Rs.132.15, a tad lower than its intra day high. It is also very close to its 52-week high of Rs.138.20.

The stock is buzzing today on news that the company is in discussions with Axiata, a Malaysian company and a minority shareholder in the company, holding 5.9% stake, for selling its towers.

Idea owns 9400 towers but at the same time, there is also a buzz that the deal could get stuck due to valuation of assets.