I can find following reasons of this action. ( Trading plan disclosure).
- It may be mandatory to announce such plan to SEBI.
You want to give signal to minority shareholder that promoter believe business has value and would like to buy below 500.
They may be willing to give exit route to SBI fund which holds 9.9L shares. SBI may be willing to sell out, which promoter is ready to buy.
As promoter you know that business prospect is dependent on crude price, which is crashing, you want to give message to sellers not to go short on the stock with your war chest of buying out 9L shares.
I see it as a positive signal.
Disc:- I am invested in it from higher level and my views may be biased.
| Subscribe To Our Free Newsletter |
