By
Reliance, India’s biggest company by market value, said it will buy back up to 120 million equity shares from the open market at a maximum price of 870 rupees each, in its first share buyback since 2005.
Earlier, the company reported a 14 percent fall in October-December net profit, its first quarterly profit drop in more than two years as gross refining margins fell sharply.
Copyright Reuters, 2012