August 23, 2018 / 7:20 AM / 3 months ago

BUZZ-India's L&T rises; okays share buyback worth nearly $1.3 bln

** Shares of Larsen & Toubro Ltd rise as much as 2.8 pct to 1,359 rupees, highest since June 14

** The construction company approved share buyback worth up to 90 bln rupees ($1.28 bln)

** Co to buy back 60 mln shares at a price of up to 1,500 rupees

** Over 4.8 mln shares change hands, double the 30-day avg of 2.4 mln shares

** Stock ended nearly 7 pct firmer on Monday after co spoke about share buyback proposal ($1 = 70.0900 Indian rupees)

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