Reliance Energy Buyback

Reliance Energy surged 4.97% to Rs 1208.15 at 10:22 IST on BSE after the company said it will seek shareholders' nod for buyback offer of the company worth Rs 2,000 crore.

The stock had a 52-week high of Rs 2631.70 on 10 January 2008 and a 52-week low of Rs 465 on 28 March 2007.

The company’s current equity is Rs 236.53 crore. Face value per share is Rs 10. The current price of Rs 1208.15 discounts its Q3 December 2007 annualized EPS of Rs 51, by a PE multiple of 23.69.

Reliance Energy’s net profit rose 50% to Rs 301.60 crore on 1.5% fall in net sales to Rs 1505.49 crore in Q3 December 2007 over Q3 December 2006.

The buyback would be made at a maximum price of Rs 1600 a share.

Reliance Energy is engaged in generating, transmitting and distributing electricity. It also provides electrical contracting, engineering, procurement and construction contracts and computer services.