(Reuters) - Reliance Industries has bought back 27 million shares to date, 22.5 percent of its share buyback target, Chairman Mukesh Ambani said.
Reliance announced in January it would buy back up to 120 million shares at a maximum value of 104.4 billion rupees, its first share buyback since 2005 and the biggest ever in India.
The energy-focused conglomerate reported its second consecutive quarterly drop in profit during the three months to March, its shares are near a three-year low, and its rising cash pile has fuelled investor (curtsey : reuter)disquiet.
Rupesh Yatesh Dalal
Head Research Department
Website : www.marketcalls.net
Facebook : www.facebook.com/marketcalls.net
Twitter : @marketcallsnet
Yahoo Messenger : rupeshydalal@yahoo.com
Email : info@marketcalls.net
