L&T approves first-ever share buyback of ₹9,000 crore

India's largest engineering and construction company Larsen & Toubro (L&T) on Thursday approved its first-ever share buyback proposal of ₹9,000 crore. The company will buyback shares aggregating up to 4.29% of the equity capital at a premium of 13.5% to Tuesday's closing price. The buyback price is higher than the stock's all-time high recorded on February 1.