{"id":481057,"date":"2022-04-01T10:48:30","date_gmt":"2022-04-01T05:18:30","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=481057"},"modified":"2022-04-01T10:48:30","modified_gmt":"2022-04-01T05:18:30","slug":"gail-will-buy-back-rs-1100-crore-stock-at-24-premium","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gail-will-buy-back-rs-1100-crore-stock-at-24-premium\/","title":{"rendered":"GAIL will buy back Rs 1,100 crore stock at 24% premium"},"content":{"rendered":"<p>NEW DELHI: State-run gas utility GAIL Ltd on Thursday announced a Rs 1,083- crore share buyback plan for 5.7 crore scrips at Rs 190 each, marking a premium of roughly 24% on Wednesday closing price on the NSE. This is the second buyback in as many years and will benefit the government as it holds 51.8% in India\u2019s largest gas company.<br \/>\nThe government had in 2020-21 gained Rs 747 crore in a Rs 1,046 crore buyback announced by GAIL. The total number of shares represents 2.5% of the company\u2019s paid-up capital and free reserves as on March 31, 2021, GAIL said. A buoyant bottom line is the driving force behind the share buyback, considered a tax-efficient way of rewarding shareholders. Buybacks are attractive in tax terms even after considering the 10% tax on long term capital gains.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: State-run gas utility GAIL Ltd on Thursday announced a Rs 1,083- crore share buyback plan for 5.7 crore scrips at Rs 190 each, marking a premium of roughly 24% on Wednesday closing price on the NSE. This is the second buyback in as many years and will benefit the government as it holds 51.8% in India\u2019s largest gas company. The government had in 2020-21 gained Rs 747 crore in a Rs 1,046 crore buyback announced by GAIL. The total number of shares represents 2.5% of the company\u2019s paid-up capital and free reserves as on March 31, 2021, GAIL [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-481057","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=481057"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/481057\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=481057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=481057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=481057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}