HCL Technologies mulls share buy-back
IT major’s board to take call on July 12
HCL Technologies said on Monday that it will consider share buy-back on July 12.
“[A meeting of] the board of directors of the company is scheduled to be held on Thursday, July 12, 2018, to consider a proposal for buy-back of equity shares of the company,” HCL Technologies said in a BSE filing.
The announcement comes within a month of TCS, the country’s largest software exporter, declaring a ₹16,000 crore share buy-back programme.
It had offered to buy back shares at a premium of more than 15% at ₹ 2,100 a share.
Details of HCL Technologies share buy-back are expected to be firmed up on July 12 when its board will discuss the proposal.
It had, last year, offered buy-back of shares at ₹1,000 apiece, a 17 % premium over its prevailing trading price at that time.
Source: Read Full Article