This is my personal opinion:
At the first glance, this buy back is a “me too” one, without any purpose, other than handing over some money to promoters without getting them a blame of market sell off. The retail investors are not getting benefited due to proportionate buy back. Not sure whether there is a part reserved for retail investors (not clear).
- The buy back is a minuscule percentage of the share capital. No great effect on earning ratios at this point.
Hate to discuss the price here, to be honest, neither the results nor the buy back offer appears to have any positives in terms of market valuations in the interim. The future potential looks promising.