Financial Daily
from THE HINDU group of publications
Friday, August 10, 2001
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Financial Daily from THE HINDU group of publications Friday, August 10, 2001 |
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Madura Coats: Uptrend may not sustain
The specifics of the buyback offer of Madura Coats may lead to some firm trend at around the current price level in the stock price. The company has proposed to buyback its shares at Rs 27 per share through the tender route. The buyback would cover 18 mi
llion shares.
The stock which trades at around Rs 20 may see some trading interest and a marginal upside as some investors may seek to capitalise on the arbitrage opportunity. But any uptrend may not be sustained beyond the buyback period. -- BL Research Bureau
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