India govt asks at least 8 state-run cos to consider buybacks - sources

Engineers India

19/10/2020 07:44

NEW DELHI, Oct 19 (Reuters) - 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 said.
    The 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 , one of the
government sources, who did not want to named, said.
    "Buyback is an important tool in our strategy and it helps
in building market price," the second source, who also spoke on
condition of anonymity, said.
    

 (Reporting by Aftab Ahmed & Nidhi Verma
Editing by Shri Navaratnam)
 ((Aftab.Ahmed@thomsonreuters.com; +911149548060;))