Anil Ambani led Reliance Energy has bought-back 200,000 equity shares of the company on Mar. 27, 2008. Since the commencement of the buy-back on Mar. 27, 2008, the company has so far bought back 650,000 equity shares at nearly Rs 1,279.23 a share aggregating Rs 831.5 million.
The board has approved the buy-back of equity shares of the company up to an aggregate amount of Rs 8 billion under the first phase, the company said.
Recently the company approved Rs 20 billion share buy-back in two phases through open market transactions at a maximum price of Rs 1,600 a share. The company, in the first phase will spend Rs 8 billion, amounting to 10% of the company`s equity and free reserves. The remaining Rs 12 billion shall be expended in the second phase, subject to necessary approvals by the shareholders.
Shares of the company declined Rs 11.25, or 0.87%, to settle at Rs 1,286.4. The total volume of shares traded was 887,903 at the BSE (Thursday).
Friday, March 28, 2008
Reliance Energy buys back 200,000 shares
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American sub prime loan crisis growing worse. Millions to be unemployed as troops return from Iraq next year by order of new president. Crime also grows as dollar value shrinks and US stays in recession through 2010. Many large companies will no longer exist soon, like Yahoo! Invest carefully. On the upside, there are plenty of cheap houses available for people to move into, and tech jobs will come back first.
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