New Delhi: IT services major HCL Technologies on Tuesday said its shareholders have approved a proposal to buyback shares worth Rs 4,000 crore.
In a BSE filing, HCL Technologies said 99.59 percent 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 percent of the company's net income to the shareholders.
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.
Firstpost is now on WhatsApp. For the latest analysis, commentary and news updates, sign up for our WhatsApp services. Just go to Firstpost.com/Whatsapp and hit the Subscribe button.
Updated Date: Aug 21, 2018 13:10:27 IST