Widely read:
Most investors greet the news of a buyback of shares by a company or promoters enthusiastically as they believe it clearly underscores the bright future of the company. Apart from the promoter's confidence in the fundamentals of the company, a buyback of shares also reveals that the stock is reasonably priced at that time. At least, the promoter believes so. Also, a buyback automatically reduces the number of outstanding shares in the market and improves the earnings per share (EPS) of the stock. Obviously, these factors would drive the stock further up, right?
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