The shares of BEL rallied in trade today as the company said its board will consider the buyback proposal in its January 30, 2018 meet.
In the meet, the decision on the buyback of the fully paid-up equity shares of BEL with face value of Rs. 1 will be taken. This moved the stock of BEL in intraday trade today over 2% and was last seen trading at Rs. 178.6 in price.
BEL limited has a majority shareholding of the govt of India with further shar of mutual funds, FPIs, insurance companies, shareholders and corporate bodies.