Buyback Spree Alive in India as State Firms Join Tech Majors

Seven weeks into 2019, two dozen companies led by technology major Infosys Ltd. have announced or completed plans to buy 170.5 billion rupees ($2.4 billion) of their own stock, according to data compiled by Bloomberg.“Buybacks this year are likely to equal the year before, if not exceed, as improving liquidity boosts cash flows for companies,” said Sameer Kalra, president of Target Investing, an investment advisory firm based in Mumbai.While the rush to return excess cash to investor