State-possessed GAIL Ltd today educated the stock trades that its board will meet on 31 March to think about buyback of offers.
On Friday, GAIL shares shut 0.41% higher at ₹147.70 each on NSE.
“The gathering of Board of Directors of the Company will be hung on Thursday, 31st March, 2022, to between alia consider Buy Back of the completely settled up value portions of the Company,” GAIL said in a recording.
GAIL, which imports and appropriates gas, likewise works India’s biggest gas pipeline organization.
“The exchanging window for managing protections will stay shut from Saturday, 26 March, 2022 till 48 hours after the date of Board Meeting wherein the monetary outcomes for the quarter and monetary year finished 31 March would be thought of and supported,” GAIL added.
What is an offer buyback?
Share buyback, or offer repurchase, is the point at which an organization repurchases its own portions from financial backers or partners. It very well may be viewed as another option, charge productive method for returning cash to investors.
Buybacks are appealing in charge terms even subsequent to considering the 10% expense on long haul capital increases (LTCG).
Normally, organizations go for share buyback in the event that it wishes to increment interest on the lookout. Share buybacks lessen the quantity of offers available for use, which can build the offer worth and the profit per share (EPS).
In the interim, elsewhere in the world Gazprom has asked GAIL (India) to pay for gas imports in euros rather than dollars, Reuters announced refering to anonymous sources, in a sign the Russian energy goliath looks to wean itself away from the U.S. money following the Ukraine struggle.
European nations and the United States have forced weighty authorizations on Russia since Moscow sent troops into Ukraine on Feb. 24.
GAIL has a drawn out gas import manage Gazprom Marketing and Trading Singapore to every year purchase 2.5 million tons of condensed petroleum gas and has been settling exchange with Gazprom in dollars.
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