in last few days the promoters had buy back approx 3,25000 shares from open market,without any increase in share price,do anyone think this is possible?where have all these sellers came from? this is all bull shit ,promoters are just making fool of investers,they will just transfer sharers from one account to another to show the transaction and their will be no acutal buy back from the open market,the stock will not out perform for the next six months till this false buy back is over and will crawl in 25rs range only.if any body disagreres then just see the past record of surana telecom;s buyback offers which is the same promoters co.
You are right but this charade can go on only upto a point because the free float is very limited and at average Rs.25 the company would have to buy back 80 lacs share which would be about 30% of the free float. If all of us have the patience then we will definitely see a price of Rs 35 before the buy back is over. I have a big lot and am not selling.
i agree with Smartnaveen. i can see that the buyback is now happening in almost a lakh a day which means the promoters are trying to collect as much as possible as early as possible before the stock price goes up. surana telecom is a totally different story, that time the whole market was crashing without any bottom. this 25 level game has been pure frustating for the last 3 weeks but also shows that the stck has a solid base at 25. if it is not ready to rise above it, it is not ready to fall below it also. one day suddenly it will surely jump. patience.
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