Gail dips 7% from day's high as board approves buyback, interim dividend

The board approved share buyback at price of Rs 150 per share via tender offer and declared an interim dividend of Rs 2.50 per share or 25 per cent for the financial year 2020-21.

Shares of Gail (India) were down 5 per cent at Rs 136.60 in the intra-day trade, falling 7 per cent from day's high, on the BSE on Friday after the company's board approved share buyback at price of Rs 150 per share via tender offer. The stock of the state-owned company hit a 52-week high of Rs 146.20 in the intra-day trade today.

The board also declared an interim dividend of Rs 2.50 per share or 25 per cent for the financial year 2020-21 (FY21). The company said it has fixed January 28, 2021 as the record date for the purpose