Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 March, 2017 15:38 IST
Oil India to buyback shares worth Rs 15.27 bn
Source: IRIS | 21 Mar, 2017, 10.45AM
Comments  |  Post Comment

Oil India, a government-owned company that explores, develops and produces oil and gas, has received its board's approval to buyback 5.60% of its paid up share capital for a consideration of Rs 15.27 billion.

The company's board has approved the buy back at Rs 340 a share. The board aims to buy back up to 4.49 crore shares of the company. As the promoter, the government currently holds 53.61 crore shares totalling 66.89% of Oil India.

(Q,N,C,F)*

The Centre hopes to raise Rs 450 billion from disinvestment of public sector units this fiscal. Till now, it has raised close to Rs 400 billion through measures including buybacks, stake sales as well as exchange traded funds.

Shares of the company declined Rs 3, or 0.9%, to trade at Rs 331.00. The total volume of shares traded was 11,457 at the BSE (10.34 a.m., Tuesday).

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
ICICI Bank partners with Truecaller to launch UPI based mobile payment service - 28-Mar-2017 13:08
GE Shipping takes delivery of secondhand Suezmax crude carrier 'Jag Lakshya' - 28-Mar-2017 13:04
Indian Oil Corp inks POL supply pact with Nepal Oil Corp - 28-Mar-2017 13:02
Pincon Spirit acquires 100 goods transport vehicles from Tata Motors - 28-Mar-2017 12:58
NTPC gets investment approval for Talaipalli coal mining project - 28-Mar-2017 12:55
Berger Paints commences commercial production at Jejuri plant - 28-Mar-2017 12:53
Bank of Baroda enters into MOU with Jain Irrigation Systems - 28-Mar-2017 12:50
Suven Life Sciences secures overseas product patent - 28-Mar-2017 12:42
Bharti Airtel concludes sale of 10.3% stake in Bharti Infratel - 28-Mar-2017 11:11
Smartlink Network acquires 100% stake in Digisol Systems - 28-Mar-2017 10:44
Aurobindo Pharma receives USFDA approval for Meropenem iniection - 28-Mar-2017 10:33
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer