Larsen & Toubro has announced a share buyback worth INR10,000 crore ($1.3bn), propelling the engineering company into India's top league table of buybacks. While IT firms are known for their large buybacks in the country, L&T is now challenging the status quo. Reliance Industries acquired a third of the Rs 10,440 crore buyback offer it announced earlier in 2012. The conglomerate purchased the shares at a price of up to Rs 870 each under the programme. Meanwhile, TCS' buyback offer is set to open on December 18, and close on January 1, 2021, with an offer price of Rs 3,000 per share.
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