HCL Technologies shareholders approve Rs 40-bn share buyback offer

IT services major HCL Technologies on Monday said its shareholders have approved a proposal to buyback shares worth Rs 40 billion (Rs 4,000 crore). 

In a BSE filing, HCL Technologies said 99.59 per cent shareholders had voted in favour of the proposal.

In July, HCL Technologies had announced a Rs 40 billion (Rs 4,000 crore) buyback programme for FY19 at a price of Rs 1,100 per equity share.

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.