The board of state gas utility GAIL (India) Ltd will meet on March 31 to consider the buyback of shares — the second in as many years.
In a stock exchange filing, the nation’s top gas transporter and distributor said its board of directors will also consider and approve the financial results for the quarter and the entire fiscal.
“A meeting of the board of directors of the company will be held on Thursday, March 31, to inter-alia consider buyback of the fully paid-up equity shares of the company,” it said.
Buying back shares is considered a tax-efficient way of rewarding shareholders. The government owns a 51.80 per cent stake and is likely to participate in the buyback.