Reliance has always been a trustworthy company when it comes to trading.....of late the prices of their shares has been really going down but this decision of Anil Ambani seems to be merely one way to keep up their shares.....
It's Mukesh's company, not Anil's.
When opportunity is in front of you, don't hesitate to catch it. It will never come to you again. - Maverick
Anil Ambani's Reliance Industries has roared back to the news with the decision of the company to buy back its shares and the share price of the company has zoomed for the past two days and today the board is going to decide the buy back price.
Chinmoy, small correction: it is Mukesh Ambani, not Anil.
The buy back size is about 10K Crore to buy about 3% of the stock. but that does not mean they will fully execute the said issue size. I think they come up with buy back because of their poor results of this quarter.
When opportunity is in front of you, don't hesitate to catch it. It will never come to you again. - Maverick
You are right, Maverick! Thanks for correcting this inadvertent mistake!
As you have rightly pointed out that the entire excercise is intended to shore up the sagging image of India's most valuable company. It's also important to add that announcement of buyback price of Rs 870 should not be putting any investor under any illusion that the company is going to buy it at that price as it is the maximum price and we are going to see sharp fall on the back of its poor last quartely financials. All work out to the advantage of the promoters who are going to increase their stake at a throwaway price!
Still yet it remains one of the companies whose valuations look somewhat downgraded at the moment but I am sure it would bounce back in the medium term! A company sitting atop 60,000 crores in cash!
Still yet it remains one of the companies whose valuations look somewhat downgraded at the moment but I am sure it would bounce back in the medium term! A company sitting atop 60,000 crores in cash!
But it hasn't till reached, the 1 lakh crore mark held by Padmanabha :laugh:
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I did not have much stock of Anil's companies ever, even when Reliance power was hot and was selling like hotcake, I knew that this project would never take a shape as the land mafia would be active and the site would become disputed soon.
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