Airtel jumps 3 percent after co says share buyback on table
Bharti Airtel's scrip today rose by 3 per cent after the company said its board will consider buyback of equity shares or a final dividend, or a combination of both, at its meeting on Wednesday.
Mumbai: Bharti Airtel's scrip on Monday rose by 3 per cent after the company said its board will consider buyback of equity shares or a final dividend, or a combination of both, at its meeting on Wednesday.
The stock gained 3 per cent to Rs 363.85 on BSE. On NSE, it went up by 3 per cent to Rs 364. The company, however, did not specify the number of shares it wants to buy back.
"The board of directors of the company will consider recommending final dividend for the financial year ended March 31, 2016, or buyback of shares of the company, or a combination thereof, at its meeting scheduled to be held on April 27, 2016," the company had said in a filing to BSE on Saturday.
As of the quarter ended March, public shareholding of the company stood at 33.21 per cent whereas the promoters held 66.74 per cent.
While the Sensex gained 417.96 points to end at 59,141.16, Nifty went up by 110.05 points to end at 17,629.50.
While BSE Sensex declined by 127.31 points to end the day at 58,177.76, Nifty 50 suffered a loss of 13.95 points to end at 17,355.30.
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