HPCL to buy-back 10 crore shares Rs 250 a unit

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HPCL to buy-back 10 crore shares Rs 250 a unit

Hindustan Petroleum Corporation Ltd (HPCL), an oil refining and marketing firm, said Wednesday that its Board approved a plan to purchase up to 10 shares of crore, representing 6.56 per cent of the company’s paid-up equity capital, at Rs 250 per share.

The maximum selling price is 33.88% above the existing stock exchange price of HPCL. On Wednesday the company acquired 0.54% to close a share of BSE at Rs 186.75.

HPCL to buy-back 10 crore shares Rs 250 a unit

In a BSE regulatory paper, HPCL said buying back remains at Rs 2500, but if stock shares are bought below the maximum buyback price of Rs 250, the number of shareholdings could be higher than maximum buyback share (10 crores).

The buyback allowed HPCL minority shareholders to expect to obtain compensation. The organisation will finalise the details of the purchase within two days.

The board of directors also accepted the amount of HPCL in the second quarter. According to this, the net profit for Rs 2.975.83 during the July-September quarter increased 290 percent year-on-year.

The company’s overall income decreased 6.59 per cent in the second quarter to Rs 62,439.86.

HPCL to buy-back 10 crore shares Rs 250 a unit

Rajat Singh
Rajat Singhhttps://bioinformaticsindia.com
Rajat Singh is the Editor-in-chief at Bioinformatics India, he is a Master's in Bioinformatics and validates all the data present on this website. Independent of his academic qualifications he is a marketing geek and loves to explore trends in SEO, Keyword research, Web design & UI/UX improvement.

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