RInfra buys back 19 lakh shares worth Rs 121 crore since April

Anil Ambani group firm Reliance Infrastructure on Friday said it has bought back 19 lakh shares, since the launch of the programme in April 11, for Rs 121.14 crore.

"The company has so far bought-back 19,00,000 equity shares under the buy-back programme for an aggregate amount of Rs 121.14 crore," Reliance Infra said in a communique to the Bombay Stock Exchange.

The company had earlier announced that it would buy-back shares of the company through open market purchases for an aggregate amount of Rs 1,000 crore. This was mainly aimed at reducing short-term volatility in the firm's share price, as well as to discourage speculative activity in its stocks.

Reliance Infrastructure has, during this week, bought-back one lakh equity shares of the company, the filing said. The buy-back would be funded from investments made by the company in liquid and marketable securities, it had said.

Shares of Reliance Infrastructure on Friday closed at Rs 557.3 on the Bombay Stock Exchange, up 0.85 per cent from the previous close.