Why to fool investors?

There are many companies announcing buy back these days trying to convince investors that the company's share price is below its intrinsic value. One of these companies is Godrej Consumer Products. Looking at the archived announcements of the company at NSE, I found that the company did a rights issue at INR 123 in March 2008. The company issued 3.2232316 crore new shares to get INR 396.4575 crore. The same company announced a buyback plan in November 2008 at a maximum price of INR 150. Here is the list of shares bought back till 31 Dec:

Date	Quantity	Average Price
4 Dec	7,384	124.98
4 Dec	2,616	124.89
5 Dec	5,687	125.81
5 Dec	4,363	125.72
8 Dec	2,820	122.55
8 Dec	12,560	122.35
10 Dec	11,776	120.63
10 Dec	993	121.02
11 Dec	13,238	120.19
11 Dec	1,104	119.33
12 Dec	1,410	117.35
12 Dec	700	118
15 Dec	967	118.52
15 Dec	5,500	118.48
16 Dec	12,494	115.23
17 Dec	831	116.15
17 Dec	2,288	116.98
18 Dec	610	117.04
18 Dec	19,522	117.6
19 Dec	1,199	120.5
19 Dec	3,101	120.66
22 Dec	1,886	133.13
22 Dec	5,136	133.66
23 Dec	3,253	132.66
23 Dec	6,363	132.5
24 Dec	5,928	137.5
24 Dec	9,107	137.19
26 Dec	6,128	139.99
26 Dec	7,872	139.13
29 Dec	13,000	139.54
29 Dec	4,684	139.34
30 Dec	11,846	143.69
30 Dec	17,729	143.63
31 Dec	21,165	140.58
31 Dec	13,126	140.80
Till 31 Dec	238,386	130.59

Investors would have got 6% returns on their money in 9 months even in PPF. So INR 123 would have become INR 130.59 in 9 months anyway. They didn't get any returns on their money in 9 months with rights issue it seems.