Mumbai, June 28: Mid-sized IT player Mindtree today said its board of directors has approved a buyback plan of Rs 270 crore. The buyback price represents a premium of around 19 per cent to the closing price of the Mindtree scrip on Tuesday. While the buyback announcement came after market hours, the Mindtree share ended nearly one per cent higher at Rs 531.20. Tata Consultancy Services (TCS), which had a cash pile of over Rs 43,000 crore on its books, has recently completed a Rs 16,000-crore buyback programme. HCL Technologies has approved a buyback of up to 3.50 crore shares worth Rs 3,500 crore.

Source: The Telegraph June 28, 2017 20:18 UTC