the board is meeting on August 23 to consider BUYBACK of shares . Also AGM on same day .
Nearly 7 % up today on first trading day after buyback news even though nothing is known yet except that board is meeting on 23 august to consider the same.
Buy on rumors, sell on news. 
now known that it will be proportionate method buyback direct from shareholders @1500 per share. somehow investment ideas be it short term or long term are not being discussed /encouraged on this board .agree it is TRADING QNA.
company has a lot of debt…why it is not using surplus cash to reduce the debt. with consolidated debt of Rs 107077 Crore and net worth at Rs 55503 Crore is some concern.
Companies in capital goods always have high debt. Not a fair comparison with anything else.
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Buyback not approved by SEBI and this announcement came after more than 3 months from record date . first ever case where sebi refused buyback proposal when all formalities like postal ballot approval ,record date etc are in place.
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May be this will help you people.