TCS, Wipro set the tone as cash-rich cos announce Rs 27,558 cr of buybacks

NEW DELHI: Buybacks are seeing a strong trend with cash-rich companies, led by IT giants TCS and Wipro, announce buybacks worth Rs 27,588 crore to reward shareholders by returning excess cash on the balance sheets.

In the period, April 1 to October 15, 15 companies have announced buybacks worth Rs 27,558 crore, as per Motilal Oswal Financial Services.