Street signs: Tech stocks buyback, Bengaluru real estate, and more

Tech stocks jump-start on buyback dreams

After sharp underperformance this year, information technology (IT) stocks finally seem to measure up. Last week, the Nifty IT Index jumped nearly 4 per cent, even as the Nifty50 Index gained only 1.7 per cent. Experts say valuation comfort and the buzz around large buybacks have jump-started interest in IT stocks. “We expect top-tier firms to announce buybacks while declaring their second-quarter numbers. Given the sharp correction in stock prices, this could be an opportune time. It could also provide a bottom for IT shares,” says an analyst. The Nifty IT Index is down