Buy-back meeting announced. Smart move. Pathetic valuations and despite lower commodity margins, cash flows are still sizeable. Lots of cash/equivalent on books.
Hope they do a max (25%) or near to max at 1100-1200 per share.
Would be interesting to see if promoters will participate in the tender or not (I am assuming tender route, 10% open-market buyback will be a pity).
Disc – Still invested.
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