The document discusses share buybacks by company promoters. It provides three main reasons why promoters may offer to buy back shares: 1) to support falling share prices and boost investor confidence, 2) to increase their ownership stake and defend against potential takeover bids, and 3) if the share price is lower than the company's intrinsic value. The buyback indicates to investors that share prices could rise in the medium term as it shows the promoter's confidence in the company.