Key Highlights: 

  • Infosys and Wipro together will spend about Rs 24,000 crore for share buyback
  • Between April - July 2017, 12 companies have spent Rs 23,699 crore repurchase of shares
  • Share buyback reached to an 18-year high at nearly Rs 34,500 crore. 

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Start of financial year 2017-18 (FY18) has been good for investors as companies like Wipro and Infosfys have announced share buybacks.

Data compiled by Prime Database show that between April – July 2017, a total of 12 companies have opted for share buybacks spending up to Rs 23,699 crore. 

Not to forget, in May 2017, IT-giant Tata Consultancy Services (TCS) spent nearly Rs 16,000 crore thereby making it the largest share buyback in the history of India.

In fiscal FY17, share buyback reached an 18-year high with 49 companies spending nearly Rs 34,500 crore compared to just Rs 1,834 crore in FY16 and Rs 605 crore in FY15. 

Share buybacks hit 18-year high and there's more to come

  • Buyback fails to cheer investors as nine brokerages downgrade Infosys since Sikka's exit
  • Infosys approves Rs 13,000 crore share buyback plan after Sikka resigns