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regular-article-logo Tuesday, 05 November 2024

GAIL meet to consider buyback of shares

The government owns a 51.80 per cent stake and is likely to participate in the process

PTI New Delhi Published 27.03.22, 12:20 AM
Representational image.

Representational image.

The board of state gas utility GAIL (India) Ltd will meet on March 31 to consider the buyback of shares — the second in as many years.

In a stock exchange filing, the nation’s top gas transporter and distributor said its board of directors will also consider and approve the financial results for the quarter and the entire fiscal.

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“A meeting of the board of directors of the company will be held on Thursday, March 31, to inter-alia consider buyback of the fully paid-up equity shares of the company,” it said.

Buying back shares is considered a tax-efficient way of rewarding shareholders. The government owns a 51.80 per cent stake and is likely to participate in the buyback.

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