NMDC Board To Consider Buyback; Shares Jump 4%

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State-controlled mineral producer NMDC Ltd has said that its board will consider the proposal for buy-back of its fully paid-up equity shares, in a meeting that will be held on June 07, 2016.

NMDC Board To Consider Buyback; Shares Jump 4%
These equity shares are having face value of Re 1 each.

In a filing to the Bombay Stock Exchange, the company said, "A meeting of the Board of Directors of the company will be held on June 07, 2016, inter alia, to consider the proposal for buy back of the fully paid-up equity shares of the company of face value of Rs. 1 each."

The shares of the company jumped 5 per cent, following the news and were last trading at Rs 91 on the NSE.

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