Shares of Gail India jumped 4 per cent to Rs 153.25 on the BSE in Monday’s intra-day trade after the state-owned utility company announced that its board would consider buyback of shares in its board meeting on Thursday, March 31, 2022.
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“The meeting of the board of directors of the company will be held on Thursday, 31st March 2022, to among other things consider buyback of the fully paid-up equity shares of the Company,” Gail India said on Friday, March 25, aftermarket hours.
The stock quoted higher for the fourth straight trading day and gained 7 per cent during the same period. At 02:06 pm, it was up 3 per cent at Rs 152.40, as against a 0.1 per cent rise on the S&P BSE Sensex. The trading volume at the counter more-than-doubled with a combined 21.3 million equity shares changing hands on the NSE and BSE.
