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
21 February, 2018 05:15 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
Sector
CMI Energy bags order from Engineers India - 20-Feb-2018 14:27
Import duty, stock limits spell relief for sugar sector: Crisil - 20-Feb-2018 13:17
Suven Life Sciences secures product patents in India and South Korea - 20-Feb-2018 10:47
IndusInd Bank intimates of no direct credit exposure to Nirav Modi - 20-Feb-2018 09:58
JSW Energy enters into MoU with Govt of Maharashtra - 20-Feb-2018 09:53
Subex partners with Pod Solution - 20-Feb-2018 09:49
Cut Govt stake in banks below 50%: Assocham - 19-Feb-2018 10:28
Glenmark Pharma presents findings from Phase 2a study of GBR 830 - 19-Feb-2018 10:10
L&T Construction secures order worth Rs 16.80 bn - 19-Feb-2018 09:52
Dilip Buildcon secures EPC road project worth Rs 6.70 bn - 16-Feb-2018 15:39
BHEL commissions 18 MW hydro-electric project in Punjab - 16-Feb-2018 13:33
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