Bharat Electronics considers buyback

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Published: January 26, 2018 1:30:13 AM

Bharat Electronics on Thursday informed exchanges that it will consider buyback of its shares. Following this intimation on Thursday, the stock gained to end the session 2% higher at Rs 177.15.

Bharat Electronics, Bharat Electronics buyback,  stock, Bharat Electronics stock, Bharat Electronics sharesBharat Electronics on Thursday informed exchanges that it will consider buyback of its shares. Following this intimation on Thursday, the stock gained to end the session 2% higher at Rs 177.15.

Bharat Electronics on Thursday informed exchanges that it will consider buyback of its shares. Following this intimation on Thursday, the stock gained to end the session 2% higher at Rs 177.15. “The government is looking to raise money from all the cash rich state-owned companies that it has and this buyback from Bharat Electronics was expected. This is one of the ways of disinvestment by the government,” said an analyst. The government of India holds a 61.7% stake in Bharat Electronics. The board of directors of the company at its meeting on 30 January will in addition to considering and approving the financial results and interim dividend declaration for the quarter-ended December 31, 2017, also consider the buy-back proposal.

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