Since the announcement of Board meeting for buyback, this stock has ran up quite a bit, despite softening of pellet / iron ore prices. May be it was due to the fact that it was discounted cheaper compared to peer group shared. But after the announcement of details, there is no further trigger in the short term. Also only 1.6% of paid up shares will be bought back. So acceptance ratio for retail shareholders in a optimistic calculation can’t be more than 3 %. So in my opinion, if it opens gap up on Tuesday, one should sell. I am sure we will get lot of opportunities to buy it at lower level.
NB- This is my opinion and I may be wrong.
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