The Nifty Auto index was trading 0.75 per cent down at 8273.90 around 10:07 am.
The tech major plans to buy back 2.058 crore shares at Rs 950 a share.
The Nifty PSU Bank index was trading 1.48 per cent down at 3077.95 around 10:16 am.
Between September 17 last year and March 18 this year, IL&FS failed to repay Rs 5,160.50 crore.
The number of stocks that have declined has outnumbered the gainers on the BSE over the last week.
The 30-share index opened on a positive note at 38,452.47.
The matter will be heard on April 4.
The strong up-trend and seasonality factors are likely to favour the bulls.
The ECB funds will come right after a Rs 2,500-crore capital infusion by the parent Tata Sons.
While liquidity squeeze has subsided, NBFC players are complaining about high cost of funds.
Sebi has proposed a heavy penalty for altering, destroying, mutilating, concealing or falsifying records.
The Relative Strength Index on the daily chart stood at 72.0034 and it has remained neutral.