Nalco gains as board to consider buyback of shares

The board will meet on April 22 to consider buyback of fully paid-up equity shares

Shares of National Aluminium Company were up over 6% at Rs 44 on the Bombay Stock Exchange after the board plans to consider buyback of shares.

A meeting of the board of directors of the company will be held on April 22, 2016, inter alia, to consider the proposal for alteration in Articles of Association of the Company and buyback of the fully paid-up equity shares of the Company, the company said in a release.

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The stock opened at Rs 42.60 and touched a high of Rs 44. At 11:50am, over 2.1 million shares were traded on both the stock exchanges.