GAIL shares surge nearly 6 pc on buyback talks

New Delhi: Shares of GAIL (India) on Tuesday gained nearly 6 per cent after the company announced it will consider buyback of shares.

The stock jumped 5.74 per cent to Rs 143.50 -- its 52 week high -- on BSE.

On NSE, it gained 5.74 per cent to its one-year high of Rs 143.50.

GAIL (India), the nation's largest gas distribution firm, will on Friday consider buyback of shares with a view to returning surplus cash to shareholders, the biggest being the Government of India.

In a stock exchange filing on Monday, the company said its board will meet on January 15 to consider share buyback as also payment of interim dividend for the fiscal year ending March 2021.

The firm, however, did not give further details.