Jio and Bharti Airtel could gain disproportionately as Vodafone Idea has a significant ~25% market share (255.4m subscribers)
The rights entitlement ratio entails 1 equity share for every 14 equity shares held by eligible shareholders as on the record date.
Bank of India said its board approved the opening of QIP on August 25 and the floor price of Rs 66.19 per equity share.
Nirav Chheda of Nirmal Bang Securitis is positive on Reliance Industries with a target price of Rs 2,250.
Reliance Jio and Bharti Airtel added 54.6 lakh and 38.1 lakh customers due to the setback faced by Vodafone Idea Ltd
Milan Vaishnav of Gemstone Equity Research and Advisory is positive on ICICI Lombard General Insurance with a target price of Rs 1510.
The stock market did not react much to the announcements since the major announcements were widely expected and were priced in
On a sequential basis, the company's net profit declined over 62% from Rs 759.2 crore in the March quarter.
The sequential decline in the bottom line was largely on account of higher tax expenses of Rs 834.5 crore in the quarter compared to Rs 510.1 crore
Ajit Mishra of Religare Broking is positive on Indraprastha Gas Limited with a target price of Rs 580.