Small Investors should participate in the L&T buyback offer
ET Intelligence Group: L&T has sprung a surprise on the Street, seeking to buy back more stock than what the average investor had pencilled in.
Hence, the acceptance ratio—number of shares accepted in the buyback for every 100 shares held by an investor—will now be 4.2 per cent, double of the earlier estimates of 2.1 per cent. This explains the 8 per cent gains for the L&T stock in the past five trading sessions. Small investors, in particular, should participate in the L&T buy back offer.
Hence, the acceptance ratio—number of shares accepted in the buyback for every 100 shares held by an investor—will now be 4.2 per cent, double of the earlier estimates of 2.1 per cent. This explains the 8 per cent gains for the L&T stock in the past five trading sessions. Small investors, in particular, should participate in the L&T buy back offer.
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