MUMBAI (Reuters) - HCL Technologies, India’s fourth-biggest software services exporter, will buy back shares worth up to 35 billion rupees ($535.5 million), it said on Monday, following a similar move by Tata Consultancy Services last month.
HCL Tech’s board approved a repurchase of up to 35 million at 1,000 rupees each, the company said in a stock exchange filing.
TCS, India’s top IT firm, in February announced a buyback of shares worth up to 160 billion rupees.
($1 = 65.3600 Indian rupees)
Reporting by Sankalp Phartiyal, editing by Louise Heavens