GAIL shares surge 4% on buyback talks

New Delhi: Shares of GAIL (India) on Tuesday gained nearly 6% in intra-day trading and closed nearly 5% higher after the company announced it will consider buyback of shares.

The stock jumped 5.74 per cent to ₹143.50 — its 52 week high — on BSE.

GAIL (India), the nation’s largest gas distribution firm, will on Friday consider buyback of shares with a view to returning surplus cash to shareholders, the biggest being the Government of India.