HCL Tech to consider share buyback on March 20

Market analysts say HCL has maintained a good track record in capital allocation

IT services firm HCL Technologies is going to announce a buyback of shares. The firm will be second among the Indian IT services to consider buyback after Tata Consultancy Services (TCS).

The company on Wednesday announced that its Board of Directors will consider a share buyback proposal when they meet next week.

"A meeting of the Board of Directors of the company will be held on Monday, March 20, 2017, to consider a proposal for buyback of the equity shares of the company," said the company in a filing to BSE.

"In terms of the code of conduct to regulate, monitor and report