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Last Updated : Aug 20, 2018 09:47 PM IST | Source: PTI

HCL Tech shareholders approve Rs 4,000 cr buyback offer

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.

 
 
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IT services major HCL Technologies today said its shareholders have approved a proposal to buyback shares worth Rs 4,000 crore. In a BSE filing, HCL Technologies said 99.59 per cent shareholders had voted in favour 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 per cent of the company's net income to the shareholders.

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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.

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First Published on Aug 20, 2018 09:44 pm
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