Reliance Infrastructure offers fresh buy back of Rs. 700 crores

>> Friday, February 13, 2009

Reliance Infrastructure announces fresh program for buy-back of shares of Rs 700 crore (US $ 143 million)
The shares purchased under the buy back programme shall be cancelled as required by SEBI guidelines leading to the reduction in equity capital. Individual can bid at maximum of Rs. 700/- per share, which is 27% above the current market price.
In my opinion towards this scrip is that it can shoot up 10 to 12% in short term.