NHPC Q3 net up 26 percent at Rs 215 cr board approves share buyback

NEW DELHI. NHPC today posted an annual 25.8 per cent jump in its net profit at Rs 214.69 crore for the third quarter and also announced a buyback plan to raise Rs 2,616.59 crore. 
 
The board of directors has approved the proposal for buyback of fully-paid shares from all shareholders not exceeding 10 per cent of the paid-up equity capital and free reserves as on March 31, 2016, at a meeting held today. 
 
Under the proposal, the company has planned to buy back shares not exceeding 81.13 crore representing 7.33 per cent of total shares at a price of Rs 32.25 for a consideration of Rs 2,616.59 crore. DNA

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