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Buybacks at 19-year high; Wipro on top at Rs 2,500 cr

Buybacks at 19-year high; Wipro on top at Rs 2,500 cr

Saturday, April 1, 2017, 9:26 AM

With nearly 50 companies launching buyback offers, shares worth Rs.34,468 crore were bought back in 2016-17, the highest in 19 years. IT major Wipro effected the biggest buyback by a private sector firm buying shares worth Rs.2,500 crore in June 2016. Government chose to tap cash-rich PSUs to meet its divestment target and took back as much as Rs.18,964 crore via buybacks.
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