The Economic Times - - Companies: Pursuit Of Profit -

res from the gov­ern­ment and other share­hold­ers.

“Once the share buy­backs are ex­e­cuted and div­i­dend paid, the coal mo­nop­oly will bounce back into black and be in a po­si­tion of an­nounce div­i­dends for its share­hold­ers too,” the ex­ec­u­tive, who did not wish to be named, said.

As part of the gov­ern­ment’s di­rec­tive, the board of South Eastern Coal­fields on Mon­day de­cided to buy

back 4.18% of its shares num­ber­ing 1.5 lakh of face value .₹ 1,000 each from its par­ent, at .₹ 79,777 per share, to­talling .₹ 1,200 crore.

Last week, the board of North­ern Coal­fields, had de­cided to hand over Coal In­dia .₹ 1,244 crore through a 4.3% buy­back pro­gramme. North­ern Coal­fields would be buy­ing back about 75,000 shares of face value .₹ 1,000 at .₹ 1.63 lakh per share. An­other Coal In­dia ex­ec­u­tive said

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