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RIL heads for largest buyback programme?

RIL heads for largest buyback programme?

Reliance Industries' buyback plan is coming after 7 years and it may rank biggest in India's stock market history.

New Delhi: Reliance Industries (RIL) is mulling a buyback and if its gets the go-ahead from the board on Friday, this will be India's largest buyback programme ever.

Analysts say assuming a minimum 10 per cent of net-worth, Reliance will have to commit Rs 16,000 crore for the buyback.

The buyback is coming after 7 years and it may rank biggest in India's stock market history.

What this buyback means is that management is either not happy with prevailing share price or keen on returning money to shareholders.

The quantum of funds set aside for the buyback will be a crucial factor for the stock price. RIL's shares surged 5 per cent on Thursday.

first published:January 20, 2012, 09:59 IST
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