Not feeling exited or enthusiastic by the investors with this development, shares of HCL Technologies plunged 5 percent at Rs. 961.90 apiece on the NSE
Nifty Financial Service, Bank Nifty, Nifty Private Bank were top lead gainers on the index rising upto 1.97 percent, while IT, Metal, Pharma lost the most.
Buyback of shares & securities results in lower capital base, increases post-buyback earning per share (EPS) and appreciates significantly the price-earnings ratio (PER) or P/E.
Shares of Procter & Gamble Hygiene, United Spirits, Britannia Industries Godrej Industries, Colgate-Palmolive and ITC Ltd also were in the green trading upto 0.70 percent.