Financial Daily
from THE HINDU group of publications
Tuesday, July 04, 2000
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Financial Daily from THE HINDU group of publications Tuesday, July 04, 2000 |
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CUMI: Buyback's firm undertone
The stock price of Carborundum Universal may hold some potential upside linked to the specifics of the buyback offer.
The downside risk may be limited till the buyback process is completed. The board of directors have approved a proposal to buy back 23.68 lakh shares at a price not exceeding Rs.115 each. With the buyback price carrying a premium of 44 per cent to the ma
rket price, there may be interest in the stock driven by buyback till the gap narrows. This may lead to firm trends in the stock price. -- BL Research Bureau
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Related links: CUMI earmarks Rs. 31.83 cr for buyback Comment on this article to BLFeedback@thehindu.co.in Send this article to Friends by E-Mail
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