Shares of Zomato hit a new low of Rs 64.70, down 7 per cent on the BSE in Wednesday's intra-day trade
Bharti Airtel needs to overcome its resistance at Rs 780 for further upside; MTNL, Voda Idea can zoom up to 30%
The stock of Tata Group telecom services provider tanked 51% after the company on January 10, 2022 announced its decision to convert interest related to AGR dues of Rs 850 crore into equity.
Excessive volatility is likely to continue for a few more days until clarity emerges from the crucial US Fed meeting. The market is discounting a hawkish Fed, analysts said
Equity dilution and discounted price of debt conversion has worried investors of Vodafone Idea and Tata Teleservices. Are these concerns warranted? How can they survive post conversion? Let's find out
The average price of the company's shares as per the calculation method provided in the DoT Communication works out to be around Rs 41.50 per share, subject to final confirmation by the DoT.
The stock hit a new high of Rs 264, and was locked at the 5 per cent upper limit. It has zoomed whopping 14,567 per cent from levels of Rs 1.80 in March 2020.
Of the 3,666 stocks that are traded on the BSE, as many as 592 were locked in the upper circuit levels and there were no sellers on the counter, the exchange data showed.
Telecom services provider Tata Teleservices (Maharashtra) zoomed 2,778%, while auto components maker Automotive Stampings & Assembles has surged 2,476% in the past one year.
Gains in some of the stocks in these two segments have been phenomenal. Shares of Brightcom Group, for instance, zoomed over 2,500 per cent in 2021
Vodafone Idea can jump up to 40% from current levels, while Bharti Airtel may see a 6 per cent rise.
Unless there is not a volume-based selling, these stocks could jump as high as 27% in no time.
The Tata Group telecom services stock hit a new high of Rs 129.45, has been nearly doubled or up 97 per cent from level of Rs 65.70 on November 12, 2021