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NHPC Q3 net up 26 percent at Rs 215 cr board approves share buyback

  • by Psu Connect
  • Date: 08-02-17

NEW DELHI. NHPC today posted an annual 25.8 per cent jump in its net profit at Rs 214.69 crore for the third quarter and also announced a buyback plan to raise Rs 2,616.59 crore. 
 
The board of directors has approved the proposal for buyback of fully-paid shares from all shareholders not exceeding 10 per cent of the paid-up equity capital and free reserves as on March 31, 2016, at a meeting held today. 
 
Under the proposal, the company has planned to buy back shares not exceeding 81.13 crore representing 7.33 per cent of total shares at a price of Rs 32.25 for a consideration of Rs 2,616.59 crore. DNA

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