IT services major HCL Technologies shareholders approve Rs 4,000 cr buyback offer

New Delhi: IT services major HCL Technologies on Tuesday said its shareholders have approved a proposal to buyback shares worth Rs 4,000 crore.[caption id="attachment_2473674" align="alignleft" width="380"]

Representational image. Reuters[/caption]In a BSE filing, HCL Technologies said 99.59 percent shareholders had voted in favour of the proposal.In July, HCL Technologies had announced a Rs 4,000 crore buyback programme for FY19 at a price of Rs 1,100 per equity share.The buyback is part of the company's strategy to return more than 50 percent of the company's net income to the shareholders.In a separate filing, the company said it has launched HCL Turbo -- an artificial intelligence (Al)-based, end-to-end testing automation platform, aimed at communication service providers.