The news of NMDC buyback is very old and when the news is out it is trading around 91 levels and also exdate of buyback is 17th August thus last two days price movements doesn’t matter. Even before ex-date it is trading above its buy back price and rationally it does not make sense to sell at lower price than that is available in market. But the point here is around 80% shares are help by government of India and thus under its dis-investment plan if it want to raise cash it has to sell shares worth 8000 cr value in market, then the news itself will make the share price to tank to much lower levels, thus by participating in this buyback program GOI could raise cash at much stable and better prices.
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