TCS to consider share buyback on October 11

TCS had in 2022 announced a share buyback of up to 4,00,00,000 shares aggregate amount not exceeding Rs 18,000 crore. This was 1.08 per cent of the total paid up equity share capital of the IT firm.

Updated Oct 6, 2023 4:12 PM IST

TCS to consider share buyback on October 11

Tata Consultancy Services Ltd (TCS) on Friday said its board of directors would consider a proposal on share buyback at its meeting on October 11. TCS is scheduled to report its September quarter results on the same day.

Analysts largely expect the IT giant to report a 9-11 per cent year-on-year (YoY) jump in profit on a double-digit rise in sales. Margins are seen expanding sequentially following the wage hikes in the June quarter.

TCS had in 2022 announced a share buyback of up to 4,00,00,000 shares aggregate amount not exceeding Rs 18,000 crore. This was 1.08 per cent of the total paid up equity share capital of the IT firm.

It came out with a Rs 16,000-crore share buyback in 2022, Rs 16,000 crore buyback in 2018 and Rs 16,000 crore share buyback in 2017.

Also read: ICC World Cup 2023: Tata group firm among key beneficiaries of mega event; here're share price targets

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A financial journalist with over 18 years of experience in print and digital media, I cover India's capital markets, focusing on stocks, IPOs, mutual funds, corporate earnings, and market trends. Currently with Business Today, I report on equities, corporate developments, fundraising activity, and the broader investment landscape, delivering timely, data-backed insights to investors and readers.

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Published on: Oct 6, 2023 4:12 PM IST

TCS to consider share buyback on October 11

TCS had in 2022 announced a share buyback of up to 4,00,00,000 shares aggregate amount not exceeding Rs 18,000 crore. This was 1.08 per cent of the total paid up equity share capital of the IT firm.

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