Reliance buyback at Rs 570/shr

The board of directors of Reliance Industries today cleared a buyback proposal at Rs 570 per share.

The stock has moved up 2.5% (Rs 13) to Rs 537 crore with a volume of over 36 lakh shares on the BSE.

According to a release issued to the BSE today, the entire board, except Anil Ambani, voted for the buyback. Anil Ambani abstained from voting on the proposal.

The board has approved buyback up to an aggregate amount not exceeding Rs. 2,999 crore, the release added.