The engineering & construction major had increased the final buyback price to Rs 3,200 from Rs 3,000 earlier. Besides increasing the buyback price, the company has also approved to reduce the number of shares to be bought back from investors to 3.12 crore, which represents 2.22% of equity. The company had earlier proposed to buy back about 3.33 crore shares.
Market expects one more rate cut as inflation stays benign
Indian economists and bond market experts expect another quarter percentage point cut in policy rates. This follows the Reserve Bank of India’s recent rate reduction