Here are the top headlines:
1. Opening Bell: Vodafone Idea is 10% higher, BPCL is crawling its way up (7th Sept)
-Vodafone Idea price will surprise everybody. If there is a strategic announcement then stocks potential will be re-rated. Vodafone Idea is 10% higher from 7 and a half rupees to 8 rupees on the Adjusted Gross Revenue (AGR) the day happen on Tuesday, the stocks went to 13 and a half. That is an outstanding comeback from the stocks like Vodafone. Eicher Motors is at a good start. Tata Motors is at 150. Dr Reddy's is also at a good start. Bharat PetroResources Limited (BPCL) is crawling its way up very nicely. The good work continues in the Auto Sector and Sun Pharma.
2. Vodafone Idea to make a strategic announcement; Company to raise up to ₹ 25000 Crores
-The market will witness an important and news heavy week after Vodafone Idea is likely to make a strategic announcement, even as the UK parent of Vodafone has refused to invest funding infusion into the company. The board has decided to approve raisings up to ₹ 25000 Crores in the company. The total raisings of funds, however, will not exceed above ₹ 25000 Crores.
Vodafone’s press conference also caught a lot of eyes. The company has a lot of interest, speculation, and hand on hard traders who bought the stocks anticipating an immediate growth. Vodafone’s stock was surged by 18% last week, despite the EGR issue.
3. Reliance Ind to monetize existing investments across formats; leverage users' digital footprint
-BofA has come out with its report. They have come out with their report on Reliance Industries as well. They have mentioned about the visibility of the Reliance Industries stocks and their triggers.
It has suggested maintaining the buy of the stocks, targeted at ₹2235 per share. According to them, a lot of triggers will be playing out in monetizing different assets. There are reports coming in the company that may offer a slice of Reliance Retail to all the investors who have invested money as far as the Jio platforms are concerned. BofA also states that there can be many monetization possibilities in the digital. Reliance Industries' (RIL) focus over the next four years would be to add a third “layer of commerce” and monetize the existing investments across different formats and to leverage the user's digital footprint.
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