Tech Mahindra Market Capitalisation, Is Set To Buy Back From Shareholders

Tech Mahindra, the country's fifth largest IT company by market capitalisation, is set to buy back from shareholders up to 2.05 crore shares worth Rs 1,956 crore at a price of Rs 950 apiece. 

Its peers TCS, Infosys and HCL Technologies also completed their buybacks earlier.

Generally, the cash-rich company buy back shares to support price as well as to distribute cash among shareholders. 

It is also seen that when the stock price falls sharply despite strong fundamentals, the company uses share buyback to increase trust among shareholders.

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