PSEs: Dividend, Buybacks & Cross Holdings (ONGC Issue gets INR 120 bln)

Buybacks have been approved aas a mechansm and LIC in a last minute bid updated to 199 mln shares on the NSE in an auction while BSE has updated an auction of 99 mln shares at INR290 LIC gets INR 38 bln additionally for the missing 130 mln odd shares.

The deficit has been fixed to thus a t least the extra due to OMCs from the goverrnment share for Oil subsidies for Fiscal 2012. No buyback candidates have been announced. 

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