India Inc's buyback party: A Rs 25,000-crore splurge in first half of 2017

In a fivefold jump over previous year, spurt comes even as stocks rally 20%

Ashley Coutinho  |  Mumbai 

In a record buyback of shares, listed companies have repurchased equity worth over Rs 25,000 crore in the first half of 2017. It is a fivefold jump over the buyback amount in the corresponding period, a year ago. In fact, the amount is higher than the combined value of shares repurchased in the first half of the previous five years.  The spurt has come at a time when the benchmark Sensex rallied nearly 20 per cent.  This is unusual as buyback is typically a bear market phenomenon, when prices of shares dip excessively and companies step in to shore them up. ...

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