The announcement comes within a month of Tata Consultancy Services (TCS), the country's largest software exporter, declaring an Rs 160 billion share buy-back programme at Rs 2,100 a share.
had last year offered buy-back of shares at Rs 1,000 apiece, a 17% premium over its prevailing trading price at that time.
Thus far in the calendar year 2018, HCL Technologies (up 12%) has underperformed the TCS
(up 39%) and Infosys (up 25%). On comparison, the S&P BSE Sensex was up 6% during the period.
At 09:17 am; the stock was trading 2% higher at Rs 984 on the BSE, as compared to 0.28% rise in the S&P BSE Sensex. A combined 630,000 shares changed hands on the counter on the BSE and NSE so far. HCL Technologies hit 52-week high of Rs 1,107 on April 23, 2018 in intra-day trade.