Page 3 - Buyback

TCS fixes November 28 as record date for share buyback; stock gains 2%

The TCS board on October 7 had approved a buyback of Rs 16,000 crore to buy back around 53.3 million shares at Rs 3,000 per share

SoftBank Group says it spent $1.35 billion on buybacks in October

TOKYO (Reuters) - SoftBank Group Corp <9984.T> said on Monday it spent 139.3 billion yen ($1.35 billion) repurchasing almost 20 million shares in October, part of a record buyback plan that has pushed the group's share price to near two-decade highs.

Modi govt to ask Coal India, NTPC among others for cash via buybacks

Coal India Ltd., NTPC Ltd., NMDC Ltd., MOIL Ltd., KIOCL Ltd, and Engineers India Ltd. are among the eight companies that might be asked to buy back shares this year

Wipro slips 6% on profit booking after Q2 results, buyback announcement

In past one month, Wipro had outperformed the market by surging 28 per cent, against 4 per cent rise in the S&P BSE Sensex.

Rane Brake Lining in focus; stock advances 13% on share buyback plan

The board of directors of the company is scheduled to meet on October 15, 2020 to consider share buyback proposal.

Majesco hits new high, trades above proposed buyback price of Rs 845

In the past three months, the stock has zoomed 141 per cent as compared to a 10 per cent gain in the Sensex.

TCS buyback to boost cash utilisation, return on equity by 150-200 bps

Near term price trajectory depends on buyback premium, Q2 show

TCS rallies 5%, hits a fresh record high on share buyback plan

The board will meet on Wednesday, October 7, 2020 to consider share buyback proposal.

Sun Pharma closes share buyback offer period; stock jumps 5%

The drug major is looking to expand its specialty business across different regions like Greater China and Japan after having established presence in the US market

Dhanuka Agritech up 7% after Co fixes buyback price at Rs 1,000 per share

The stock had hit a 52-week high of Rs 935 on July 20, 2020.

Sebi extends relaxation in procedural norms for open, buyback offers

The regulator, in May, had granted one-time relaxations from strict enforcement of SAST Regulations and norms for buyback of securities through open and buyback tender offers

Sebi halves post-buyback cooling off period for firms to six months

Move seen as a boost to corporate repurchase programmes, may make fund raising easier as well

Sebi floats discussion paper to plug gaps in buyback regulations

Presently, there is ambiguity on whether standalone and consolidated financials should be considered by evaluating various thresholds and conditions for buybacks

Buyback offers touch Rs 300 billion in three months

The buyback route, experts say, is a better way to reward shareholders rather than paying a hefty dividend, as the latter is subject to tax

28 companies announce buyback plans aggregating Rs 213 billion

While Mcleod Russel, ADF Foods, Indiabulls Real Estate, DCM Shriram and BSE have announced buyback through open market route, the remaining 23 companies plan to buy back their shares via tender offers

Companies blaze new route to buyback, skip narrower one

India Inc is increasingly opting for the 'tender route' buyback instead of the traditional 'open market' route. Between 2006 and 2014, nearly 80 per cent of the buybacks were done through the 'open market' route. Since 2015, 95 per cent of the buybacks have been through the 'tender route'. Even the recent mega buyback of Tata Consultancy Services (TCS) has been proposed to be done through the 'tender route'.Change in regulatory and taxation framework has been the key factor behind the shift.The sharp rise in tender buybacks have coincided with the government's decision to levy 10 per cent additional taxes on dividend at the hands of individuals."Over the years, the primary motive of buybacks has changed. Earlier buybacks were used to send a signal to the market that the stock is undervalued. In the current context and with change in tax code, companies are using buyback as a tax efficient way of distribution to shareholders. The change in mechanism being used largely reflects the ...

Why buybacks are not favoured by top Indian IT firms

SEBI made changes to the buyback norms, dividend distribution tax is up 20% making it inefficient

India Inc's share buyback programmes gather pace

Around a dozen firms announce buybacks worth Rs 20,000 crore so far in 2016-17

7 companies approve share buyback in four months

Of the seven that have announced buyback plans, four companies including Dr Reddy's Laboratories and Wipro, are from the benchmark Nifty 50 index

Buybacks return in 2016

With some plans already announced and market conditions more conducive, experts feel more of such offers possible