As expected, with a hurried up merger meeting on a Sunday, the writing was on the wall that the merger ratio will not be a good one.
The merger ratio fixed was 4:1 (personally I thought it should have been based on the closing price of the market).
Surprisingly, the analysts changed their opinion about RNRL so quickly.
Initially their sales pitch was that RNRL had a great future with 4 CBM blocks and gas which can be traded over.
Now they claim RNRL was actually a nothing company with CBM blocks discovery far away and gas @ 4.2$/mmBtu.
All those folks who tried to make a killing by buying RNRL before SC decision or before GSMA with RIL, would be upset (mild word).
Spare a thought for the poor folks who bought it @ higher levels.
The merger ratio fixed was 4:1 (personally I thought it should have been based on the closing price of the market).
Surprisingly, the analysts changed their opinion about RNRL so quickly.
Initially their sales pitch was that RNRL had a great future with 4 CBM blocks and gas which can be traded over.
Now they claim RNRL was actually a nothing company with CBM blocks discovery far away and gas @ 4.2$/mmBtu.
All those folks who tried to make a killing by buying RNRL before SC decision or before GSMA with RIL, would be upset (mild word).
Spare a thought for the poor folks who bought it @ higher levels.
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