Rumple, your news about some FII`s selling was absolutely correct. Was talking to someone quite close to the Co.`s management and he mentioned that they are quite perturbed about the sell off by some FIIs, and extra floating stock created in the market. He added that they are keenly waiting for the SEBI approval for buyback, so that they could quickly put an end to the free fall and stabilise the falling price.
Pls dont misguide innocent boarders. Buyback is at Rs 75/- It cannot freefall in the price until 75. Buy posting such messages you are trying to stop others from selling this dead stock
the FII shareholding has dropped only marginally from 53.6 to 52.75 something
the firgure yur are mentioning of 50.64 to 47.68 comes under the heading of public shareholding who own more than 1%. So sum of that has come down. It is by coincidence that this lists has mostly FIIs. Maybe that is why the confusion
But the buyback price was Rs 72 and now the price of Geodesic is well above. So is it not the Geodesic management or promoter lowering the price of the company shares so that they can buy again at the lower levels and then it may shoot as it did when the price was quoting at 50s?
Dear Porthos, by the time SEBI approved their Maximum proposed buyback price of Rs. 75/- , the market price had moved higher. Thereafter, Geod management moved SEBI to increase the maximum buyback price. The approval of this is awaited.
Rumple, in my post, by saying a couple of FII`s selling, I meant that they have been selling recently, in the last fortnight or so. That was given to me to understand. The fall in FII holding in the quarterly data relating to these unloadings might show up in the 31st Dec. data.
Shubham, the new proposed rate has not been disclosed and remains a tight secret. However, my guess is that this time, the top rate for buyback could be between Rs. 90/- to Rs. 105/-
| NIFTY 
