The stock gained 3 percent to Rs 363.85 on BSE. On NSE, it went up by 3 percent to Rs 364. The company, however, did not specify the number of shares it wants to buy back.

"The board of directors of the company will consider nrecommending final dividend for the financial year ended March 31, 2016, or buyback of shares of the company, or a combination thereof, at its meeting scheduled to be held on April 27, 2016," the company had said in a filing to BSE on Saturday.

As of the quarter ended March, public shareholding of the company stood at 33.21 percent whereas the promoters held 66.74 percent.

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