India Inc's buyback party: A Rs 25,000-crore splurge in first half of 2017

In a fivefold jump over previous year, spurt comes even as stocks rally 20%

In a record buyback of shares, listed companies have repurchased equity worth over Rs 25,000 crore in the first half of 2017.

It is a fivefold jump over the buyback amount in the corresponding period, a year ago. In fact, the amount is higher than the combined value of shares repurchased in the first half of the previous five years. 

The spurt has come at a time when the benchmark Sensex rallied nearly 20 per cent. 

This is unusual as buyback is typically a bear market phenomenon, when prices of shares dip excessively and companies step in to shore them up. However, with