Page 8 - Share Buybacks

TCS shareholders approve up to Rs 16,000-crore share buyback plan

The voting, which started on October 20 and ended on November 18, saw 99.57 per cent of the votes being cast in favour of the buyback offer

Wipro sets December 11 as record date for Rs 9,500 cr share buyback plan

Its Board of Directors and shareholders have already approved its proposal to buyback up to 23,75,00,000 equity shares of the company at Rs 400 per share

Wipro shareholders approve up to Rs 9,500-cr buyback plan at Rs 400/share

IT services major Wipro on Tuesday said its shareholders have approved its up to Rs 9,500 crore share buyback plan. Wipro's board of directors had last month approved a buyback proposal for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. "...resolution (special resolution seeking approval for buyback of equity shares) has been passed by members through postal ballot by remote e-voting process with requisite majority," the company said in a regulatory filing on Tuesday. The voting, which started on October 18 and ended on November 16, saw 99.78 per cent of the votes being cast in favour of the buyback offer. There was 100 per cent voting in favour of the proposal by the promoters, 98.73 per cent by public institutional shareholders and 98.49 per cent by public non-institutional shareholders. Wipro's larger rival Tata Consultancy Services (TCS) has also proposed a mega Rs 16,000-crore buyback plan at Rs 3,000 per equ

Multiple triggers to drive NMDC re-rating, firm to consider share buyback

While recent hikes have pushed iron ore prices to 24-month highs, analysts also expect sustained improvement in operating performance

HPCL sees two-fold jump in net profit in Q2, okays Rs 2,500-cr buyback

This included a $2.33 per barrel inventory gain from buying cheaper crude oil earlier and processing in Q2.

NTPC to buy back shares worth Rs 2,275 cr as part of restructuring plan

Gets board nod to buy back up to 197.8 mn quity shares; thermal power giant registers 4.8% growth in profit in Q2

NTPC board okays buyback of 197.8 million equity shares worth Rs 2,275 cr

The company has fixed November 13, 2020 as the record date for the purpose of ascertaining the eligibility of shareholders for buyback of equity shares

No longer tax-efficient: Cash-starved Coal India may give buyback a miss

Most of the subsidiaries of CIL are facing a cash crunch because of slow growth in coal demand, coupled with record high outstanding payment from power generating companies

Market regulator clears the deck for proposed share buyback in NTPC

The company is among the 8 public sector undertakings (PSUs) directed by the government to consider a share buyback in order to boost its disinvestment kitty

Centre asks at least eight state-run companies to consider buybacks: Report

"Buyback is an important tool in our strategy and it helps in building market price," the second source, who also spoke on condition of anonymity, said

Cosmo Films surges 9% as Board to consider share buyback plan

The board of directors of the company is scheduled to meet on Monday, October 26, 2020 to consider the proposal for buy-back of equity shares of the Company

The buyback rush

Firms may not be optimistic about growth prospects

Best of BS Opinion: The buyback rush, places of protest and politics & more

Here's a selection of Business Standard opinion pieces for the day

KIOCL freezes at 10% upper circuit as Board to mull share buyback

The board will meet on Monday, October 19, 2020 to consider the proposal for buy back of fully paid-up equity shares of the company

Buybacks for FY21 cross last yr's tally after announcements from TCS, Wipro

Change in tax structure leads to revival of share repurchase programmes

Wipro board approves Rs 9,500-crore share buyback; revenue up 1.4%

The company is looking at buying 237.5 million equity shares, or 4.16 per cent of its paid-up capital, though the date of the programme has not been fixed.

Wipro board approves Rs 9,500 crore buyback at Rs 400 per share

Plans to buy 237.5 mn shares or 4.16% of paid-up capital, on a proportionate basis from existing shareholders under the tender-offer route

In a share buyback, make a tactical bet if price gap is attractive

In a buyback, purchase the stock early from the market or else the price gap could close

What is share buyback and things to keep in mind before participating in it

Abhimanyu Sofat, Head of research at IIFL Securities discusses things one should keep in mind before participating in the buyback offer. Tune in to know more

Wipro rallies 5%, hits fresh 20-year high on share buyback plan

Wipro's board will meet on Tuesday, October 13 to consider buyback proposal.