Shares of HCL Technologies surged nearly 2 per cent on the Bombay Stock Exchange after the company said that its board of directors will meet on Monday, March 20, 2017 to consider a share buyback proposal.
"A meeting of the Board of Directors of the company will be held on Monday, March 20, 2017, to consider a proposal for buyback of the equity shares of the company," the IT major informed the BSE in a regulatory filing. Boosted by the development, shares of company gained as much as 1.93 per cent at Rs 856.15 apiece on the Bombay Stock Exchange.
In a similar fashion, stocks of company rose 1.53 per cent to Rs 855.80 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 29,532.44, up 134.33 points, or 0.46 per cent at 11:22 hours.