On September 20, Finance Minister Nirmala Sitharaman announced slashing the basic corporate tax rate for domestic companies to 22 per cent from 30 per cent. The effective tax rate for domestic companies reduced to 25.17 per cent from 34.94 per cent inclusive of surcharge and cess.
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In July, HCL Technologies had announced a Rs 4,000 crore buyback programme for FY19 at a price of Rs 1,100 per equity share.
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