<p>Shares of various public sector companies today gained ground after the government approved buyback of shares by certain PSUs as part of the divestment programme.<br /><br /></p>.<p>The Cabinet today approved the buyback of shares in PSU companies, but further details would be finalised by the boards of individual public sector entities.<br /><br />While the names of potential buyback candidates could not be immediately ascertained, shares of companies like MMTC, Coal India, NMDC, Shipping Corporation surged higher.<br />MTNL, HMT, STC, Hindustan Copper, Engineers India Ltd, MOIL, Power Finance, Oil India and NHPC were also trading higher.<br /><br />While MTNL was the biggest gainer in the PSU pack with a gain of over 6 per cent at the BSE, HMT gained 5.9 per cent, STC by about 5 per cent and National Fertilizers by over 4 per cent.<br /><br />Hindustan Copper, NMDC, EIL and Shipping Corporation were up more thant 3 per cent, while MMTC and Neyvelli Lignite were up about 2.9 per cent each.<br /><br />Nalco, Bank of Baroda, PFC, Chennai Petro, NHPC, Oil India, BEML, Coal India and Syndicate Bank were trading with gains of over one per cent at 1150 hours in a weak market.</p>
<p>Shares of various public sector companies today gained ground after the government approved buyback of shares by certain PSUs as part of the divestment programme.<br /><br /></p>.<p>The Cabinet today approved the buyback of shares in PSU companies, but further details would be finalised by the boards of individual public sector entities.<br /><br />While the names of potential buyback candidates could not be immediately ascertained, shares of companies like MMTC, Coal India, NMDC, Shipping Corporation surged higher.<br />MTNL, HMT, STC, Hindustan Copper, Engineers India Ltd, MOIL, Power Finance, Oil India and NHPC were also trading higher.<br /><br />While MTNL was the biggest gainer in the PSU pack with a gain of over 6 per cent at the BSE, HMT gained 5.9 per cent, STC by about 5 per cent and National Fertilizers by over 4 per cent.<br /><br />Hindustan Copper, NMDC, EIL and Shipping Corporation were up more thant 3 per cent, while MMTC and Neyvelli Lignite were up about 2.9 per cent each.<br /><br />Nalco, Bank of Baroda, PFC, Chennai Petro, NHPC, Oil India, BEML, Coal India and Syndicate Bank were trading with gains of over one per cent at 1150 hours in a weak market.</p>
