Coal India enters into pact with NLC India to set up joint venture for power generation

NLC India Tuesday said its board has approved a proposal to the buyback of shares worth Rs 1,248.9 crore.

The board of directors of the company in the meeting held Tuesday has "approved the proposal to the buyback of not exceeding 14,19,31,818 equity shares...for an aggregate consideration not exceeding Rs 12,48,99,99,984," NLC India said in a BSE filing.

Coal India on Monday said that it has entered into a pact with NLC India to set up a joint venture for power generation.

(With inputs from agencies.)