Idea shares gain after quarterly earnings beat estimates

Reuters
A man speaks on his mobile phone as he sits in front of a shop displaying the Idea Cellular Ltd's logo on its shutter in Mumbai April 28, 2014. REUTERS/Danish Siddiqui

MUMBAI (Reuters) - Shares in Idea Cellular Ltd gain more than 2 percent in early trading on Tuesday after the wireless service provider posted better-than-expected quarterly earnings. Idea Cellular reported on Monday a 90 percent jump in January-March consolidated net profit, and said it was confident about growth, as phone carriers benefit from reduced competition after a long price war. Bharti Airtel is up 0.5 percent ahead of its quarterly earnings later in the day. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)