Analysts feel the company can buy back 10 percent of its paid up equity shares without shareholders' approval and the buyback size for 10 percent equity may be USD 450 million.
Mindtree is exploring options for buyback of shares and a decision will be taken in the next three to six months.
In September 2016, Cognizant had disclosed that it had discovered violations of the US Foreign Corrupt Practices Act.
Headquartered in Osaka, Brilliant is a products and solutions company that specialises in digital strategy, product design and engineering, the Internet of Things (IoT), and enterprise mobility.
"The board has recommended the adoption of new Articles of Association of the company in conformity with the Companies Act, 2013 to the shareholders for approval," Infosys said in a BSE filing.
The development comes after TCS announced a share buyback worth Rs 16,000 crore last week. It was preceded by Cognizant, while HCL Tech also said it was exploring the possibility of a buyback.
Business in 2017 will be better than 2016 feels Malcolm Frank, EVP-Strategy & Marketing of Cognizant. While quarter one has been good so far, the company‘s guidance of 7.9-10 percent growth for the full year 2017 is a cautious one, he tells CNBC-TV18 in an interview.
US-based IT major Cognizant today posted a 1.8 percent fall in net profit at USD 416 million for the December quarter, while its board okayed a plan to return USD 3.4 billion to shareholders over two years.
US-based Cognizant today said it has identified "potentially improper payments" worth USD 6 million being made for company-owned facilities in India, higher than the earlier estimate of USD 5 million
Cognizant's guidance of 8-10 percent revenue growth for 2017 is a silver lining for the Indian IT sector which has been reeling under a lot of pressure, said Sanjiv Bhasin, Executive VP - Markets and Corporate Affairs, IIFL.
IT services firm Cognizant today said it has entered into a "cooperation agreement" with activist shareholder Elliott Management and appointed three independent directors to its board.
After hedge fund Elliott Management asked for increased share buy backs at Cognizant, other domestic and foreign institutional investors are also demanding the same from the IT giants.
The opening up of the new facility would enable Cognizant's global, regional and local clients to leverage the technical and business capabilities available in the region, Cognizant said in a company statement.
Under the pact, the New Jersey-based firm will build a platform for FCL to simplify, automate and secure business processes, speed up collaboration and maximise synergies across all lines of business, the companies said in a joint statement.
Sydney-headquartered Adaptra, established in 1998, works with five of the top 10 insurers in Australia and New Zealand.
With the close of the acquisition, about 260 specialists from Mirabeau will become part of the Digital Business practice at Cognizant, which has a majority of its workforce in India.
"Margins might be impacted in the near-term," Chief Executive Vishal Sikka said, adding the company had not yet done any simulations on how large the impact may turn out to be.
Some of the stocks that should be on your radar are: ICICI Bank, Britannia Industries, Tata Consultancy Services, Infosys, Heritage Foods, Future Retail, Ceat, ITC, GRUH Finance,Cognizant.
In September, Cognizant had said it was conducting an internal investigation into possible violations of the US Foreign Corrupt Practices Act amid allegations that the IT major had made "improper payments to obtain permits and building licences in India".
US-based IT services company Cognizant has posted 11.8 per cent increase in net profit to USD 444.4 million for the July-September quarter compared to USD 397.2 million in the same period last year.
HR Framework of the company is going to be rejigged and the reporting structure will be realigned.
IT major Cognizant has appointed company veteran Rajeev Mehta as its new President.
JP Morgan IT analyst Viju George told CNBC-TV18 that the there is some value in select IT stocks and sees huge value in company's like Infosys and Tech Mahindra.
While Market Expert Sudip Bandopadhyay believes problems TCS is facing in the US market will be a 'thing of the past' once elections are over, Deepak Shenoy believes the whole IT sector has taken a beating due to the advent of new technologies.
However, the company's net income fell to USD 252.4 million, or 41 cents per share, in the quarter ended June 30 from USD 420.1 million, or 68 cents per share, a year earlier.