Share Buybacks to Rescue Funds

The spree of open offers and buybacks unleashed by India Inc has brought a glimmer of hope for harried fund managers. With domestic companies and multinational parents acquiring shares at a reasonable premium, funds with holding here will benefit if they sell it to the acquirer. Two, the spurt in stock prices anyway is expected to funnel some gains to the depressed net asset values. Add to it, the buyback fever has already started to rub on other "suitable" candidates that own surplus cash with beaten down stock prices. Domestic com