Reliance Energy extends buyback

Mumbai: Reliance Energy Ltd ((REL) on Monday extended the buyback programme of its equity shares up to 17 March 2005. This will be the second extension to the buyback since it was announced on 14 June.

On 14 June, REL had announced a buyback that was to end on 8 June 2005. Initially, the buyback was to be open for 90 days to close on 18 September. On 21 July the board decided to extend the buyback up to 17 December.

JM Morgan Stanley, managers of the buyback, said that the company will continue buying shares for another 90 days up to March 2005.