Vardhman Acrylics : A fixed deposit like Opportunity

Vardhman Acrylics : On going buy back
Date of commencement of Buy-back : May 29, 2012.
Last Date for the Buy-back : May 08, 2013.

Consider buying a Cash certificate at 14% discount : Rs. 10 shares of Vardhman Acrylic was traded at Rs 8.60 today. Book value : Rs 23.11 & EPS : Rs. 2.26 as on 31/03/2012. Inspite of on going buy back by the Company, the shares were trading around Rs. 7.90 to 8.70 since the 30th May & the Company mopped up 78% of the deliverable shares ; details as follows:-

Date	Number of shares	Deliverable	Others
	at NSE	Qty	Qty
30-May-12	50000	97101	47101
31-May-12	29080	33126	4046
1-Jun-12	114988	126888	11900
4-Jun-12	167782	204652	36870
	361850	461767

                   Bought back till monday 361850 shares & a minimum of 46,38,150 shares to be bought. A price rise of 3-4 (Over Rs. 8.60 as present) is expected IMHO by the time full mope is made.
 
Non-promotors holdings are summarised as follows:-

	Numbering	Total_Shares	Av Holdings
Bodies Corporate	492	10896964	22148
Individual <1L	14382	16425402	1142
Individual >1L	475	16374488	34473
TRUSTS & FOUNDATION	2	82989	41495
NRI'S	41	182303	4446
Any Other Total	43	530584	12339
	15435	44492730

Holding company VTM are keen to enhance their holding to 73+ % level , should the buy back is 100% Successful.