Somehow, I get a different feeling on this whole episode, my thought process as I look back the past 2 days is written below. I may be thinking unnecessarily and all the below will not have any impact on the business at all, but let me put my views anyway.
1 day before the stake sale, there was a huge spike of the stock until about 710 and there were pending buy orders of 28000 plus on BSE, if I remember correctly as I have looked at this data due to the unusual spike.
a. Someone might be testing the upside strength of the stock
b. This spike would have given psychological advantage to sellers the next day as looking at a stock which touched 700+ a day before and being available at around 600 the next day will make buyers plunge for a buy.The above points are important because only half of promoters stake were bought by big boys while the other half is a forced sell on the market as observed by boarder in the above post.
Interestingly, promoters could secure big boys for only half the amount of stake sale and the rest is sold to public! Of the 8800000 shares sold by promoters, 3716692 were bought by big boys.
Anyway, I will rest my rant on this topic here, let me move on.
Have a nice weekend.
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