SEBI Open Market Buybacks Return Aug 1: Stocks to Watch

SEBI Open Market Buybacks Are Back — And the Queue Is Already Forming SEBI's June 2026 board decision to reinstate open market buybacks effective August 1, 2026 is the kind of regulatory shift that quietly reshapes capital allocation across entire sectors. After years where tender offers dominated the buyback scene, listed companies now have a third route — purchasing their own shares directly through stock exchanges. For cash-rich companies sitting on swollen balance sheets, this isn't just a policy footnote. It's a starting gun. Open market buybacks work differently from tender offers. Companies buy shares over a defined window at prevailing market prices rather than a fixed premium price. That flexibility matters because it lets management act opportunistically when valuations dip, rather than committing to a single buyback price months in advance. The mechanism was previously restricted by SEBI, and its return signals confidence that market infrastructure can handle the transparency requirements that come with exchange-route transactions. I'll be direct: the sectors most likely to move first are the ones that have been quietly accumulating cash while doing relatively little with it. That points squarely at Indian IT, FMCG heavyweights, and select Pharma names. IT Giants Have the Most Firepower [Infosys](/stock/INFY) (NSE: INFY) and [TCS](/stock/TCS) (NSE: TCS) are the obvious candidates. Infosys held approximately ₹34,000 crore in cash and equivalents as of its March 2026 balance sheet. TCS, which has historically returned capital through both dividends and buybacks, completed a ₹17,000 crore buyback in late 2023 and hasn't announced one since. Both stocks carry FairStock Scores above 72, reflecting the quality of their balance sheets and cash generation. [Wipro](/stock/WIPRO) (NSE: WIPRO) and [HCL Technologies](/stock/HCLTECH) (NSE: HCLTECH) are worth watching too, though their buyback histories are less aggressive. Wipro completed a ₹12,000 crore tender ...