SAIL shares gain on share buyback report

Wed Feb 20, 2013 1:56pm IST

A worker unloads steel bars from a trolley at an iron and steel factory on the outskirts of Jammu February 1, 2013. REUTERS/Mukesh Gupta/Files

A worker unloads steel bars from a trolley at an iron and steel factory on the outskirts of Jammu February 1, 2013.

Credit: Reuters/Mukesh Gupta/Files

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Reuters Market Eye - Steel Authority of India(SAIL.NS) shares gained over 5 percent after CNBC-TV18 newschannel quoting finance ministry sources said the SAIL board will consider a buy-back of equity shares on February 25, several dealers said.

The news channel also said the buyback was likely around 85-90 rupees a share.

A SAIL spokeswoman declined to comment immediately.

SAIL shares up 1.7 percent at 79.80 rupees at 1.35 pm.

(Reporting by Manoj Dharra)

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