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Coal India, NTPC, EIL May Come Up With Share Buybacks; Stocks Trade Higher
As per a leading business channel report, the centre has asked public sector undertakings to rewards its shareholders. For this criteria considered is for companies that are trading at a price higher than the book value. Book value is a measure of all of the company's assets.
Further the report stated that as many as 8 companies from the PSU space including Coal India, NMDC, Engineers India and NTPC may soon offer share buyback.
In trade on Monday (October 19, 2020), shares of PSUs including Coal India, NTPC, NMDC, Engineers India all traded higher between 1-4%. The government may gear up with the divestment process in these PSUs via buybacks and has asked companies to either buyback shares or engage in capital expenditure.
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