Entire stake is bought by institutions – name of a few has come out – balance should come (this is my thinking ) . What is wrong if promoters make honest exit at market price that too at 6 month low price that too for philanthropic and family reasons ? they must be applauded for wanting to give back to society.Now as for timing only the promoters will know what is the specific fund requirement for philanthrophy or family reasons but its useless to speculate – Remember 2 things : Promoters sold at Rs.610 which is the latest esop issue price . Secondly advance tax payout is due in 3 days-since no STT would have been paid by them for their initial purchase or acquisition they would need to pay tax on this transaction.Promoters did not behave opportunistically nor in unethical manner but sold a small stake for societal good since the old man is getting old this is laudable and must be complimented as they are doing charity at such a scale without any drum beating
| Subscribe To Our Free Newsletter |
