As Microsoft prepares for share buyback, let's take a look at firms that took the same option

SUMMARY

Here is a look at some important share buyback programs:

By CNBC-TV18Sept 16, 2021 3:14:48 PM IST (Published)

Tech giant Microsoft has gained global attention after its share value saw a significant rise (1%) following the company's plans to move forward with a share buyback program worth $60 billion. Here is a look at some important share buyback programs:

Wipro has had a long history of share buybacks. The most recent of these took place last December when it repurchased up to 23.75 crore equity shares at Rs 400 per share, for an aggregate amount of Rs 95 billion.

Tata Consultancy Services (TCS), India’s largest IT firm (TCS) first came out with a buyback plan most recently in November when the company bought back 5.33 crore equity shares at Rs 3,000 each for an aggregate amount not exceeding Rs 160 billion.

Reliance Industries Limited (RIL) created history back in 2012-13 when Mukesh Ambani led firm bought back 3.51 crore shares for Rs 2,512 crore, from its public shareholders.

Apple announced in April its $90-billion plan for share buyback not long after the iPhone maker repurchased $19 billion of stock in the March quarter.

Alphabet, the parent company of Google waded through an economic downturn in the second quarter of FY 2020 by buying back $6.85 billion in stock. This in turn helped the company to rejuvenate its growth trajectory in the next quarter itself.