HCL Technologies gains 2% on shareholders approval for buyback

(Image: HCL)

Shares of HCL Technologies added 2.2 percent intraday Tuesday as company received shareholder approval for buyback of Rs 4,000 crore.

The Company has fixed August 31, 2018 as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback.

The board of directors of the company, in its meeting held on July 12, 2018, approved the buyback of equity shares of the company, subject to the approval of the shareholders.

The shareholders of the company approved the buyback, by way of a special resolution, through postal ballot (including e-voting)

The company also announced the launch of HCL TURBO, an artificial intelligence (Al)-based, end-to-end testing automation platform, aimed at communication service providers

At 13:27 hrs HCL Technologies was quoting at Rs 1,002, up Rs 11.20, or 1.13 percent.