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)
Trending On Reuters
The Reserve Bank of India (RBI) has not said it is done with interest rate cuts and will keep a close eye on incoming data, Governor Raghuram Rajan told CNBC in an interview. Read | RBI more likely to cut rates in Sept - Reuters poll