HCL Technologies gains on share buyback plan

The stock was up 3% to Rs 864 in intra-day trade, trading close to its 52-week high on BSE

HCL Technologies gained 3% to Rs 864 in early morning deals, trading close to its 52-week high on BSE, after the company said that its board of directors will meet on Monday, March 20, 2017 to consider a share buyback proposal.

"A meeting of the Board of Directors of the company will be held on Monday, March 20, 2017, to consider a proposal for buyback of the equity shares of the company," the IT major informed the BSE in a regulatory filing.

As on December 31, 2016, promoters and promoter group hold 60.34% share in the company, while