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GAIL India gains as board to consider share buyback

The board will meet on March 31 to consider and approve a buy back of the fully paid-up equity shares of the company, the state-owned natural gas distribution firm has said

March 28, 2022 / 03:24 PM IST
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GAIL India share price gained 3.8 percent intraday on March 28 ahead of a board meeting in which a share buyback plan is to be taken up.

"The meeting of the board of directors of the company is scheduled on March 31 to consider and approve a buy back of the fully paid-up equity shares of the company," the state-owned natural gas distribution firm said in its BSE filing on March 25.

The company said the trading window for dealing in securities would remain closed from March 26 till 48 hours after the date of the board meeting.

In a buyback in 2021, GAIL bought back more than 6.97 crore shares, or 1.55 percent of the total paid-up equity, and the rice was fixed at Rs 150 a share.