The country’s largest gas distribution company GAIL (India) has announced that it will consider buyback of shares in its upcoming board meeting on Friday, January 15.
In a filing to the stock exchanges, the company said that its board will meet on January 15 to consider share buyback and payment of interim dividend for the financial year ending March 2021.
The board will consider the proposal of buyback of the fully paid-up equity shares of the company of face value of Rs 10 each, the exchange filing informed. It did not provide any other details.
Following the announcement, the shares of GAIL (India) rose 5.75 per cent to Rs 143.50 apiece on the BSE and National Stock Exchange (NSE) during the intraday trade today.
