What is the rationale behind the price rise if foreign entity is selling it’s stake? Isn’t it a bad news for the company?
historically, its always been like that.
When someone exits, mkt prices a bad exit.
Similarly, if one is going to buy, mkt prices a higher entry price.
This is general observation where the entry/exit is not very impactful in the company.
Stock fell from 500 to 400 and had the overhang from this news for the past 6 months. Classic case of sell the rumour and buy the news.
The diversification and over dependence on revenues from cigarettes decreasing and the value unlocking associated with it along with hopes of becoming a further professionally run company are the triggers for the stock going forward.
Even though BAT was ready to offload at 5% discount in the block order window ,the entire quantum is picked up within 1% discount, too much demand came which was not expected.
If a big guy is selling isn’t there a big guy buying at the other end