Oil India To Buy Back Rs 1,527-Crore Shares
Share buybacks offer a route for companies to return some wealth to their shareholders, while potentially boosting their stock prices.20-03-2017
Oil India To Buy Back Rs 1,527-Crore Shares
Share buybacks offer a route for companies to return some wealth to their shareholders, while potentially boosting their stock prices.Oil India Board approves share buyback
The Board of Directors at Oil India Limited (OIL) have approved the buyback of 4.49 crore equity shares - representing 5.6% of the company's equity shares - at a share price of Rs. 340. The total value of the OIL buyback would be Rs. 1,527.01 crore. The Buyback, the company said, would be on a proportionate basis through the tender offer route. OIL, which contributes around eight per cent of the country's oil production, and 10 per cent of India's gas production, is among the companies the government is considering for consolidation into a larger oil&gas; firm, which could be more effective in international bids for oilfields, and better placed to take on competition.Vertical integration will boost oil firms, says OIL chief Bora
Bora refrained from giving any further details on the nature, scope and timeline of such a mergerOil India Limited
Oil India Ltd on Friday said that its board will meet on March 20 to consider the proposal to buy back shares of the company. Shares of the company were ended up 3.2 per cent at 334.40 on the...NOTICE Is Hereby Given That A Board Meeting Is Convened As Under : DATE:20.03.2017 (Monday)
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