Buybacks jump 2.6 times this year as stocks take a tumble, shows data

51 companies have announced Rs 37,519-crore buybacks so far

One97 Communications, the parent of Paytm, will soon join over 50 other listed companies to announce a stock repurchase programme in 2022. A sharp fall in stock prices over their 2021 highs has prompted many companies to launch buybacks.

The buyback tally this year is 2. 6x that of 2021’s. So far this year, 51 companies have announced buybacks worth Rs 37,519 crore. By comparison, 42 companies had announced buybacks worth Rs 14,341 crore, according to data furnished by PRIME Database.

The actual shares extinguished through buybacks in 2021 stood at Rs 13,658 crore.

So far this year, shares worth