Hi Devarshi, Good point on buyback by ITC to utilize the excess cash since its not going to be funding the hotels, the asset heavy business anymore, and FMCG is also more or less over the phase.
I am all for buyback but feel BAT should sell in open market and then buyback should be announced.
Short term dip should not really concern long term shareholders…Infact the short term dip will ensure greater shares get extinguished in the buyback; more rewarding for remaining long term shareholders.
BAT stake sale and buyback announcement together might give a feel of favoring BAT over other long term shareholders. As if giving them a decent exit, instead of BAT selling in the open market. Also will set precedence for the remaining 25% shares when they want to sell in future…
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