In India currently, there are about 15 companies buybacks ongoing in the share market.
The idea of this report is to review the status of these buybacks and try to make an assessment about how much of the buybacks are actually being done.
Out of the 15 buybacks which are ongoing as of now, there are only 5 buybacks in which actual bought back amount is atleast 50% of the aggregate announced buyback size.
In the case of remaining 10 buybacks, the actual buyback numbers as of now are quite modest in comparison to the aggregate announced buyback amounts. However, one needs to note that these buybacks have considerable time left before their closure.
RIL (Reliance Industries) has seen actual buyback of nearly Rs. 51.20 Crores in the first month of its buyback program, in comparison to its aggregate buyback size of nearly Rs. 10,440 Crores. That works out to actual buyback size of about 0.49% of the aggregate buyback announced. Also, the actual buyback has happened only on seven trading days till now. However, the RIL still has considerable time before the closure of their buyback program on 19th Jan 2013.
Similarly, modest beginnings were seen in the share buybacks of Valiant Communications (1.09%), Gemini Communications (2.75%), Ansal Housing (4.50%), GEECEE (11.49%).
Same time companies such as CRISIL and Rain Commodities were quite aggressive as they have completed almost 99% and 97% of their buybacks respectively.
The idea of this report is to review the status of these buybacks and try to make an assessment about how much of the buybacks are actually being done.
Out of the 15 buybacks which are ongoing as of now, there are only 5 buybacks in which actual bought back amount is atleast 50% of the aggregate announced buyback size.
In the case of remaining 10 buybacks, the actual buyback numbers as of now are quite modest in comparison to the aggregate announced buyback amounts. However, one needs to note that these buybacks have considerable time left before their closure.
RIL (Reliance Industries) has seen actual buyback of nearly Rs. 51.20 Crores in the first month of its buyback program, in comparison to its aggregate buyback size of nearly Rs. 10,440 Crores. That works out to actual buyback size of about 0.49% of the aggregate buyback announced. Also, the actual buyback has happened only on seven trading days till now. However, the RIL still has considerable time before the closure of their buyback program on 19th Jan 2013.
Similarly, modest beginnings were seen in the share buybacks of Valiant Communications (1.09%), Gemini Communications (2.75%), Ansal Housing (4.50%), GEECEE (11.49%).
Same time companies such as CRISIL and Rain Commodities were quite aggressive as they have completed almost 99% and 97% of their buybacks respectively.
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