Ann: Ceasing to be a substantial holder, page-4

Blackrrock sold 9M shares over approx 10 trading days.. ~900k per day

They sold at least 6.5M over 7 trading days since the first notice to get under 5% ... ~900K per day

with 34M shares left once they went under 5% left to sell at an average of 900k per day is 37 trading days or approx 7 weeks. I assume they did not significantly partake in Wednesday's Half Yearly panic 20% price meltdown with 40M shares traded, not the next days minor recovery. They might have but such consistent selling pattern indicates an orderly 'averaging out' process having decided that the risk of insolvency etc no longer suits their risk profile or appetite. 

Market liquidity should be able to easily digest 900k shares per day, even rise if the panic price drop was seen as over done. 2 months should see them done before the end of April and release of next quarterly, a very important market update indeed. No doubt cash burn will be reduced if for no other reason than catch up copper con shipments. A good report that shows significant improvement in the required metrics at both Nifty and Renison at the same time as Blackrock has finished their sell down would clear resistance to an upward share price re-rating. Tough to see it going anywhere much in the mean time.

Good luck