NHPC has dipped 5% to Rs 18.70 falling 6% from intra-day high on BSE, after the board of state-owned company approves buyback of its shares at a price of Rs 19.25 per share through tender offer.
The board of directors of the company at its meeting held on today, has unanimously approved the buyback of up to 10% of fully paid up equity shares of Rs 10 each at Rs 19.25 per share payable in cash for an aggregate amount of Rs 2,368 crore through tender offer, NHPC said in a statement.
The stock opened at Rs 19.90 and hit a low of Rs 18.20 so far. A combined 10.5 million shares have changed hands on the counter till 1450 hours on BSE and NSE.
The board of directors of the company at its meeting held on today, has unanimously approved the buyback of up to 10% of fully paid up equity shares of Rs 10 each at Rs 19.25 per share payable in cash for an aggregate amount of Rs 2,368 crore through tender offer, NHPC said in a statement.
The stock opened at Rs 19.90 and hit a low of Rs 18.20 so far. A combined 10.5 million shares have changed hands on the counter till 1450 hours on BSE and NSE.
