Price closer to buy back will offer 80 to 100% AR. For anyone purchased at 47 to 52, it is better to tender even if market price is 1 or 2 rupees higher than buy back as gains from buy back is tax free.
With increase in global aluminum prices by 28% Nalco and Hindalco will go up gradually despite minor dips in between. Naclo should go to 75 ~80 levels post buyback. One can buy at dips either to tender on buy back or even hold over next 1 to 2 years