As much as Rs 47,810 crore was spent on share buybacks by 48 companies in 2023 the highest amount since 2017.
This surge in value was largely driven by a few large-sized issues, including those by Tata Consultancy Services (Rs 17,000 crore), Larsen & Toubro (Rs 10,000 crore), and Wipro (Rs 12,000 crore).
In 2022, 58 companies had repurchased shares worth Rs 38,305 crore, according to data from Prime Database.
The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date.