Gail India gains 4% as board to consider share buyback on Thursday

The attractiveness of the buyback will be determined when the quantum and price of buyback is announced, said ICICI Securities in a note.

Shares of Gail India jumped 4 per cent to Rs 153.25 on the BSE in Monday’s intra-day trade after the state-owned utilities company announced that its board will consider buyback of shares in its board meeting on Thursday, March 31, 2022.

“The meeting of board of directors of the company will be held on Thursday, 31st March, 2022, to inter alia consider buy back of the fully paid-up equity shares of the Company,” Gail India said on Friday, March 25, after market hours.

The stock quoted higher for the fourth straight trading day, and gained 7 per cent