Jio's Diwali offer: 100% cashback on Rs 399 pack; here's how you can get it

Under the Diwali Dhan Dhana Dhan offer, Jio Prime customers get eight vouchers worth Rs 50 each on a recharge of Rs 399. The offer can be availed of during the Oct 12-16 period

Reliance Jio has announce a 100 per cent cashback offer on Rs 399 recharge for Jio Prime customers. Dubbed the ‘Diwali Dhan Dhana Dhan’ Jio's Diwali offer , the cashback comes in the form of eight Rs 50 vouchers that can be redeemed in further recharges. Jio Prime customers can avail of the offer starting today, October 12 and the offer will continue until October 18.

The eight Rs 50 vouchers that you get on a recharge of Rs 399 can be redeemed against future recharges of Rs 309 or above, and on data add-ons booster packs of Rs 91 or above. The vouchers come with a condition of use that allows only one voucher to be redeemed at a time and only after November 15.

Also Read : Airtel vs Jio in cheap 4G phone: Voice-data bundling coup waiting to happen

The offer can also be availed of by the subscribers who are still under the validity period of their last recharge. The recharge will activate only after the current plan validity of the recharge expires.

Under the Rs 399 recharge, Reliance Jio offers free calls, SMS, subscription to Jio apps and 84 GB of data with a cap of 1 GB per day, valid for 84 days. The Diwali Dhan Dhana Dhan offer is valid for both, prepaid and postpaid subscribers.

TCS announces share buyback; Infosys and Wipro may follow

Investors eye a piece of the large cash kitty as growth slows

Barely a week after the US-based software services player Cognizant Technology Solutions, which has several delivery centres in India, announced plans to return $3.4 billion to its shareholders through buyback of shares and dividends, Tata Consultancy Services (TCS), too, said its board would be meeting on Monday to consider a buyback plan.

In a statement to stock exchanges on Thursday, TCS said, “We would like to inform you that the board of directors will consider a proposal for buyback of equity shares of the company at its meeting to be held on February 20, 2017.” If approved, this will be TCS’ first buyback since its listing in 2004.

The Street took the news positively, as stocks of domestic information technology (IT) majors - TCS, Infosys, Wipro, Tech Mahindra and HCL Technologies - were up 1.4-3 per cent on Thursday.

When asked about the company’s capital allocation plans, Rishad Premji, whole-time director and chief strategy officer, Wipro, said, “We did a buyback last year worth Rs 2,500 crore. We have a stated dividend payout ratio policy, which is 40-45 per cent, which we have maintained. We have said that on an annual basis, we actively discuss this within the company and evaluate what makes sense with the cash that the company generates. We are open to evaluating options like buyback, special dividends. It makes sense for the organisation, as we move forward.”

Buybacks are seen as the preferred route over dividends, as they are more tax-efficient. Besides dividend distribution tax at an effective rate of over 20 per cent, dividend income in the hands of all residents, except domestic companies, trusts or funds, also attracts an additional dividend tax of 10 per cent on dividend income over Rs 10 lakh a year. Read more