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NMDC likely to buy back shares

India Blooms News Service | | Jun 03, 2016, at 07:46 pm

Mumbai, Jun 3 (IBNS) Shares of mining company NMDC surged in the early hours of trade on Friday after the news that the company has scheduled a board meeting next week to consider a proposal to buy back the company's shares, according to media reports.

NMDC made the announcement late on Thursday.

On Friday, NMDC stock gained 5.26 per cent to Rs 91 on the BSE and was up 5.38 per cent to Rs 91 on the NSE.

But the company did not share any information about the quantum of the share buy back.

The government held 80 per cent stake in the country's largest iron ore miner, as of March 2016, media reported.

#NMDC #BSE

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