Government Asks At Least 8 State-Run Firms To Consider Buybacks: Report

Government Asks At Least 8 State-Run Companies To Consider Buybacks: Report

The union government has asked at least eight state-run companies to consider share buybacks in the current fiscal year that runs through March, 2021, two government officials said.

The eight companies that have been asked to consider share buy backs include Coal India, NTPC, NMDC and Engineers India, one of the government sources, who did not want to named, said.

“Buyback is an important tool in our strategy and it helps in building market price,” the second source, who also spoke on condition of anonymity, said.

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