Tuesday, February 26, 2008

Reliance Energy board to consider buy-back of shares

A meeting of the board of directors of Reliance Energy will be held on Mar. 05, 2008, to consider, buy back of equity shares of the company.

Reliance Energy (BSES) was incorporated in 1929 as Bombay Suburban Electric Supply. With Reliance`s aggregate shareholding of 53.38%, the company`s name was changed to the present one.

The company`s principal activity is to generate, transmit and distribute electricity. It also provides electrical contracting, engineering, procurement and construction contracts and computer services.

Shares of the company gained Rs 66.8, or 4.29%, to settle at Rs 1,622.7. The total volume of shares traded was 920,999 at the BSE. (Monday)

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