A basis point is one-hundredth of a percentage point.The company raised Rs 30,000 crore last year through a rights issue in two parts, in January and September. Earlier this month, the company said it would raise another Rs 30,000 crore through a rights issue of optionally convertible preference shares to invest in Reliance Jio Infocomm, the telecom unit. "While E&P has been a drag on earnings, we believe that the price reform announced by the Indian government will benefit Reliance. Further upside in the stock depends on the success of the Jio launch and how quickly Jio can capture market share. We remain positive on Reliance Industries in the near term."

Source: Economic Times January 22, 2017 19:12 UTC