Almost 100 pct shareholders vote in favor of HCL buyback worth Rs 4,000 crores
IT services major HCL Technologies today said its shareholders have approved a proposal to buy back shares worth Rs 4,000 crore.
- Country:
- India
IT services major HCL Technologies today said its shareholders have approved a proposal to buy back shares worth Rs 4,000 crore.
In a BSE filing, HCL Technologies said 99.59 percent shareholders had voted in favor of the proposal.
In July, HCL Technologies had announced a Rs 4,000 crore buyback programme for FY19 at a price of Rs 1,100 per equity share.
The buyback is part of the company's strategy to return more than 50 percent of the company's net income to the shareholders.
In a separate filing, the company said it has launched HCL Turbo -- an artificial intelligence (Al)-based, end-to-end testing automation platform, aimed at communication service providers.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
Google News