Reliance Infrastructure today bought back two lakh company shares from the open market.
"Reliance Infrastructure has today bought back 2,00,00 equity shares of the company pursuant to the buy-back programme," it said in a communique to Bombay Stock Exchange (BSE).
The scrip of the company today closed at Rs 658.05 on the BSE, down 1.43% from its previous close.
Reliance Infrastructures' Board had on February 14 approved a buy-back of the company's outstanding equity shares of Rs 10 each for an aggregate amount of up to Rs 1,000 crore at a price not exceeding Rs 725 per equity share. The offer was started from April 14.
The company has so far bought back 10 lakh shares under the current buy-back programme.
Reliance Infrastructure said that the buy-back, aimed at reducing short-term volatility in the company's shares and reiterating the confidence of the management in its future growth prospects, would be funded from internal accruals.
