Promoters have been selling stocks. They sold 1 lakh shares in bulk deal yesterday. Even on Friday, they sold 50,000 shares. They have been regular sellers. They have to sell a large quantity so that after warrant conversion, their holding does not go above 75%. Will this overhang of selling let the stock move up? valuations are not low either – p/bv 5x, p/e 21x on fully diluted basis!
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