Reliance Energy to Buyback Shares

Tuesday, February 26, 2008

Reliance Energy to Buyback Shares

Anil Ambani group firm Reliance Energy on Tuesday said its board will consider buyback of shares at a meeting to be held on March 5.

"A meeting of the board of directors of the company will be held on March 5 to consider buyback of equity shares of the company," Reliance Energy said in a communique to the Bombay Stock Exchange.

Buyback means repurchase of outstanding shares by a company in order to reduce the number of shares available for open trading in the market, thus increasing the proportion of shares the company owns.

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