Wipro board will hold a two-day meet to consider the buyback and Q4 results
In the case of buyback of shares from the open market, a company buys back the shares from the stock exchanges having nationwide terminals
Company's founders will not be participating in the buyback, while the top leadership can sell up to 10% of their vested stock
A retail investor can benefit from arbitration as the shares are trading at a discount of Rs 29/- to the buyback offer price.
eClerx Services buyback offer is at a premium of 38% or Rs 885 to its current price of Rs 2315.
Most buybacks are done at a premium to the market price and that becomes profitable to shareholders.
Infosys on Wednesday reported 17.47% year-on-year growth in consolidated net profit at Rs 5,076 crore for the quarter ended March 31.
In August 2019, Infosys had bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer
Aarti Drugs surged 9.72% to Rs 749.50 after the company's board approved a proposal to buyback upto 6 lakh equity shares of the firm at Rs 1000 each.
Aarti Drugs advanced 3.80% to Rs 693 after the company said its board will consider a share buyback on Friday, 19 March 2021.