Jindal Poly was the highest gainer in the last fortnight though sentiments were down in the market. The scrip rose by 36 per cent in one fortnight. One of the reasons for the scrip to surge is that it announced the buy back of shares which started on December 22 and till now total shares bought are 4769. The company intends to buy back total 46880 shares from the market. In other words, only 10 per cent of intended quantities have been bought back. The only problem with buy back is that the counter is quite ihiquid and few thousands shares are being traded. We are not sure that the counter can sustain the momentum for the next fortnight. We advise investors to be cautious and take decisions based on the buy back. If there are more buy backs the scrip will surge and if there are no buy backs the scrip will fll.
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