India's state-run companies gain on report of share buyback

Engineers India

19/10/2020 08:27

** India's Nifty public sector enterprise  .NIFTYPSE 
sub-index rises as much as 2% 
    ** Indian government has asked at least eight state-run
companies to consider share buybacks in the current fiscal year
that runs through March 2021, two government officials told
Reuters  urn:newsml:reuters.com:*:nD8N2EF00P
    ** Eight companies that have been asked to consider share
buy backs include Coal India  COAL.NS , NTPC  NTPC.NS , NMDC
 NMDC.NS  and Engineers India Ltd  ENGI.NS , Reuters reported
    ** Shares of coal India, NTPC, NMDC and Engineers India rise
 between 1% and 3.5%, while the Nifty metals sub-index
 .NIFTYMET  gains 1.2%
    ** Shares of public sector oil and gas companies, Oil &
Natural Gas Corp  ONGC.NS , Hindustan Petroleum  HPCL.NS ,
Bharat Petroleum Corp  BPCL.NS , Indian Oil Corp  IOC.NS  and
Gail (India)  GAIL.NS , rise between 2% to 3.5%

 (Reporting by Nallur Sethuraman in Bengaluru)
 ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))