When OCCL announced buyback, the stock immediately rushed to the 1150 and stayed there itself, stayed like a dead dodo. Thanks to the daily buyback, which lasted for around 2months. Once the (only) buyer is gone, the stock has tumbled.
Over the last two+ months, they managed to buy back about 180,000 shares till Friday the 8th of Feb. The average volumes of this stock are a ludicrously tiny 4,000 shares a day, and typically a good portion of the volume has been because the buyer is, well, the company itself.
And then, today, someone hit the stock with a massive 120,000 share order, and in a few minutes the big buyer was gone. The 120,000 shares meant that the buyback was over. The company cannot buy back more shares, because they have the upper limit of R.s 35 cr. on the buyback.
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