Chart of the day: Is RIL’s buyback programme a hit so far?

Riken Mehta
Moneycontrol Bureau

Reliance shares continue to flounder even as the company is buying back shares from the market. When the company had announced the share buyback, investors were hopeful that it would act as a good support at lower levels. However, with uncertainty over gas output persisting, investors appear to be using every rise in stock price to book profits. RIL has so far bought back 3.18 crore shares since 14th February, 2012. It touched a 52-week low of Rs 671 on 8th May.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s