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R-Infra buys back 5,00,000 shares

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 2:28 AM IST

Anil Dhirubhai Ambani Group firm Reliance Infrastructure (R-Infra) today said it had bought back 5 lakh equity shares of the company from the open market.

"Reliance Infrastructure today bought back 5 lakh equity shares of the company, pursuant to the buy-back programme of the company," it said in a statement.

On August 18 also, the company has bought back 5 lakh equity shares of the company from the open market.

The company's Rs 1,000-crore buy-back plan is aimed to reduce short-term volatility in its share price and discourage speculative activity in its stocks.

Since the launch of the programme in April 11, the firm has so far bought back 3.479 million equity shares for Rs 192.96 crore, it added.

Shares of R-Infra today closed at Rs 416.7 on the BSE, down 6.95%.

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First Published: Aug 26 2011 | 9:13 PM IST

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