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What a time and money waste buyback.
Bought 2300 shares @80.45 for buyback last week with sole purpose of making some gains.
The ex-buyback price was Rs. 76.
I got mail informing ER of 36 shares.
So Net Gain works out to be 36* (Rs. 105 - 80.45) = Rs. 883.80 less 2 way brokerage.
Whereas the notional loss in the investment is (2300-36)*(Rs. 80.45 - 76) = Rs. 10075.
Net loss in this buyback deal is Rs. 10075 - 884 = Rs. 9191
What a hopeless buyback, such buybacks are made only to trap investors..

@Sansri you are right . ER can't be worst than this , though AR will be better than this.
However you rightly said it's post election story only