SAIL shares gain on share buyback report

Reuters Market Eye - Steel Authority of India shares gained over 5 percent after CNBC-TV18 newschannel quoting finance ministry sources said the SAIL board will consider a buy-back of equity shares on February 25, several dealers said.

The news channel also said the buyback was likely around 85-90 rupees a share.

A SAIL spokeswoman declined to comment immediately.

SAIL shares up 1.7 percent at 79.80 rupees at 1.35 pm.

(Reporting by Manoj Dharra)