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NIIT TECH : Are investors losing interest in the open offer?
Share price has fallen from 1314 on 26th April to 1259 by end of today. Despite fall in price, investor interest has not increased. We consider delivery quantity as % to traded quantity as investor interest. Of course, this could be distorted by Buy Today Sell Tomorrow positions. But, still one can fairly ascertain investor interest using this ratio. We have noticed that delivery % to traded quantity has remained static despite fall in price. So, a question here as Competition Commission of India has given clearance to forthcoming open offer. But, have investors lost interest?
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