The Hindu Business Line

Confidence Petro mulls buyback

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The board of Confidence Petroleum will meet on December 19 (Monday) to consider a proposal of buyback of equity shares of the company. On a consolidat­ed basis, the net profit of the company rose 48 per cent to ₹1.04 crore in the July-September quarter from the year-ago profit of ₹71.7 lakh. Investors will closely monitor the price of the issue and the quantum of the shares that the LPG bottler and cylinder manufactur­er plans to acquire through the buyback.

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