The Ex-date has reached. The stock gocha get melt. Every one is eligible for right issue who holds the script as on 12-nov.
It will take more than two months to recieve the form.
equity dilution is 20%..as said by the management...it had scaled 30 this week... from 30 levels that corresponds to a fair value of 24...also this is a fairly low PE bank stock....they had some NPA issues..but it holds lot of promise...L&T is invested in this too..
i re-entered into this yesterday at 26.3 levels..would like to know if i will be eligible for rights as well..?
that is what i think too.... infact i had sold it off at 30 levels last month.. renetred seeing it at a low of 26 rs.. not able to figure out how it retraced 20%..... i think it was trading ex rights on 12th nov..but it has become weak and now looks like it will under perform markets..... i had sold off my mercator and bartronics which i had got a week back and had netted a neat 20% gain in both the counters....
Rights are priced at Rs. 6, which include a premium of Rs.5. The record date for the eligibility is already over for getting the right share at Rs. 6. It is only 1 right share for every 4 equity shares held by you. If your are holding 100 shares you will get an offer for 25 rights shares at Rs. 6. If you buy today you are not eligible to receive the rights offer.
| NIFTY 
