Vodafone Idea shares: Shares of \u00a0Vodafone Idea on Thursday plunged as much as 9 percent to Rs 37.60, their lowest since October 31, day after the newly combined entity reported Q2 loss of Rs 49.74 billion. The telecom major posted losses mainly on account of a one-off charge for integration and merger-related costs. The company is mulling raising nearly Rs 250 billion in which promoters Vodafone Group will chip in Rs 110 billion and Aditya Birla Group Rs 72.5 billion. What global brokerages say Jefferies The global brokerage says that it expects Idea to be the number 3 player by early FY20 and continue to lose market share over next two years. Jefferies retains "underperform" and cuts price target to Rs 30 from Rs 50. Also read: Share market LIVE updates: Sensex, Nifty trade flat with minor gains; Vodafone Idea tanks 8%, Grasim dips 7% Citi The global bank says the investment amounts to significant dilution at current depressed valuations but should be positive, as it should help address going-concern risks emanating from high leverage and losses. It assigns 'high risk\u2019 rating because of inherent volatility due to high leverage, and a target price of Rs 83. Meanwhile, Vodafone Idea on Wednesday posted a huge consolidated net loss of Rs 4,974 crore for the quarter ended September. It shows the kind of the financial stress the telecom operators are undergoing due to below-cost tariff which is resulting in the customers migrating to lower average realisation per user (Arpu) offerings. Vodafone and Idea completed their merger on August 31.