Stagnation in Indian IT: Spate of buybacks a signal of apprehension

Prospects in the US are questionable due to the possibility of a tightening H1B visa regime

The information technology (IT) sector has seen a spate of buyback offers and rumours. Infosys, Tata Consultancy Services (TCS), HCL Technologies, Wipro and Cognizant (not listed in India) have all made buybacks or considered doing so. Outside IT, major public sector units (PSUs) like Oil India (OIL), NMDC, MOIL and Coal India (CIL) have also done buybacks. So have some cash-rich multinational corporations (MNCs) like Novartis India and Bosch.

Each of these cases had, or will have, individual pros and cons. The investor will have to study the specific cases in detail to decide whether he or she wishes to