November 26, 2018 / 8:06 AM / in 3 months

BUZZ-Oil India's share buyback proposal is credit negative - Moody's

** Shares of Oil India Ltd fall as much as 2.9 pct to 199.2 rupees, their lowest in 10 days

** Moody’s said on Friday company’s proposal last week to buy back shares worth around 10.86 bln rupees ($153.80 mln) is credit negative

** Moody’s expects company’s net borrowings to increase to 110 bln rupees by March 2019, up from 90 bln rupees as of March 2018

** Net borrowings increase is also driven by expectation that company will continue to pay high shareholder dividends and have higher capital spending in FY ending March 2019

** More than 1.2 mln shares traded vs 30-day avg of 892,221 shares

** Oil India’s estimated PE at 7.17 vs sector avg of 8.78 ($1 = 70.6100 Indian rupees)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below