Reliance Energy to consider buyback of shares

Reliance Energy to consider buyback of shares
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First Published: Tue, Feb 26 2008. 11 21 AM IST
Updated: Tue, Feb 26 2008. 11 21 AM IST
Mumbai: Anil Ambani group firm Reliance Energy today said its board will consider buyback of shares at a meeting to be held on 5 March 2008.
“A meeting of the board of directors of the company will be held on 5 March to consider buyback of equity shares of the company,” Reliance Energy said in a communique to the Bombay Stock Exchange.
Buyback means repurchase of outstanding shares by a company in order to reduce the number of shares available for open trading in the market, thus increasing the proportion of shares the company owns.
Shares of the company were trading at Rs1,673.4, 3.12% up, on BSE in morning the trade.
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First Published: Tue, Feb 26 2008. 11 21 AM IST