Let’s not jump to conclusions.. Promoters are too smart to “force” a sale. The non reported part of the buy would likely have been distributed to Institutional investors and Hni’s as well. Salil Singhal is In his 7th decade and would have his own motivations, which the market will doubtless query. This thread has sufficient discussion on the quality of Pi’s business which I do not want to regurgitate. The question to ask yourself is this. Would I buy this business at the cmp of 600 plus minus 10 pc; would I be willing to hold it for the next 5 years if the markets were shut. Will this business compound at 20 or plus pc at superior capital return ratios; will the cash generated be deployed keeping in mind the interests of all shareholders; what superior alternatives do I have to grow my invested capital? In case you are unconvinced sell now and sleep well. I’m happy to hold on take decisions based on Business performance.
On an unrelated note, Cartica who came in this June have 3 other investments in India, Page, Eicher and Supreme Ind. As far as I know they are in for the future that they feel this Business has.
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