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HSBC Holdings PLC on Monday said profit grew 5 percent in the six months through June and announced its third share buyback in a year, indicating continued progress in the six-year turnaround plan of Europe's biggest bank. HSBC, like many global banks, spent the years up to the 2008 financial crisis expanding its empire with a string of acquisitions. Recent years have seen it cut jobs and sell assets worldwide to shrink the group back to profitability and maintain dividend payouts in an era of stricterc. The bank's Chief Executive Officer Stuart Gulliver and Chairman Douglas Flint are both retiring, leaving a legacy of improving revenue and returning more capital to shareholders, having focused on trimming the bank's empire and shifting focus to Asia. The latest share buyback, of up to $2 billion, comes as HSBC uses excess capital to offset the dilutive effect of shares paid out as dividends. It completed a previously announced $1 billion buyback in April. "...

Given the performance of stocks over the past few months and the mounting cash pile in their books, most information technology companies - Infosys , TCS, Wipro and HCL Technologies - have announced a buyback to reward shareholders over the past few months. Also Read: India Inc's buyback party: A Rs 25,000-crore splurge in first half of 2017 The buyback in most cases was through the tender route, under which repurchases were executed using a fixed price tender offer. TCS board, for instance, approved and completed its proposal to buy back up to 56.14 million equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore at Rs 2,850 per equity share. Besides TCS, HCL Technologies, too, has completed the buyback process. On a year-to-date basis, Infosys has lost over 3% at the bourses as compared with around 20% rally in the Nifty50 index, ACE Equity data show. Also Read: Buyback offers: What should traders do if a company offers one? Surprisingly, I...

Tata Consultancy Services' (TCS')   board of directors has approved a proposal to buyback up to 5,61,40,351 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore, the company informed BSE in a filing.  The buyback size works out to 2.85 per cent of the company's total paid up equity share capital, at Rs 2,850 per equity share.  "The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the Sebi (Buy Back of Securities) Regulations, 1998, and the Companies Act, 2013, and rules made thereunder," the filing said.  Further, the buyback size does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, printing and dispatch...