We have seen a number of share buyback announcements recently. Most buybacks happen because companies want to distribute excess cash to shareholders. It is a reward that shareholders eagerly await. However, chatter on the Street is that some of the recent buybacks have an ulterior motive: to arrest the panic selling in their shares. One such player, according to a few market watchers, seems to be a communications company. It is likely to announce the buyback record date very soon. Buzz is that promoters are using the company’s cash to attract investors and prop up the share price that had fallen by about three-fourths from the peak. It remains to be seen how successful they will be in doing so. Until then, shareholders are the real winners.

Shifting focus now to Deal Street where we have three titbits from the world of executive movements and the industrials segment. For starters, we hear the search is on for an M&A head at one of the leading diversified business groups of the country. Next up, buzz around domestic buyouts in this segment has been strong in the past few months, but lo and behold don't be surprised if an outbound one is being pursued quietly!