Mumbai, April 21 :    Mumbai, April 21:  Coats Viyella plc is planning to hike its present 51 per cent stake in Madura Coats Ltd - the Indian subsidiary of the UK-based textile major - through a buy-back of its shares. Madura Coats is a sewing thread and fabric accessories major in the Indian market. Madura Coats informed the stock exchanges today that a meeting of the board of directors has been convened on April 25 to discuss the quarterly results and consider the buyback of shares. The Madura Coats scrip on Friday closed at Rs 13.30 after opening at Rs 12.50 and rising to an intra-day high of Rs 13.45. The 52-week high level for the scrip stands at Rs 20. During the previous financial year, Madura Coats sold its garment divisions consisting of Madura Garments to the AV Birla group company, Indian Rayon and Industries Ltd. Meanwhile, Finolex Cables Ltd announced its intention to go in for a buy-back of shares. The Pune-based company told the stock exchanges in a notice that a meeting of the board of directors has been convened on May 11 to consider the proposals for buyback of equity shares and employees' stock option plan. Apart from this, the board will also consider the audited financial results.