Central Government Asks 8 PSUs To Consider Share Buybacks To Boost Economy: Report

Central Government has asked at least eight public sector companies to share buybacks and invest in this fiscal year that runs through March 2021 in order to maintain its fiscal deficit. Those firms which have been asked to invest includes: miner Coal India, power utility NTPC , minerals producer NMDC and Engineers India Ltd.

These firms chose anonymity over revelations, as these discussions are private. On anonymity’s condition, one of the official told, “Buyback is an important tool in our strategy and it helps in building market price.”