tcs share buyback
Leading IT company Tata Consultancy Services (TCS) may buy back some of its shares. That means TCS will buyback shares. The special thing is that the final decision on share buyback will be taken on October 11. The company said on Friday that there will be a board meeting of TCS on October 11, in which the decision on the share buyback proposal will be taken. At the same time, a rise of 1 percent was recorded in TCS shares on Friday. TCS shares closed at Rs 3,621.25 on NSE with a rise of 1 percent.
Actually, on October 11, the company will release the results of the September quarter of the current financial year. This is the reason why TCS has fixed October 11 as the day to consider share buyback. However, this will not be the first time that the company will consider share buyback. Earlier also in the year 2022, TCS had done its last share buyback. Then the company had bought back shares worth about Rs 18,000 crore from the market. Then the issue size of share buyback was 4 crore shares. Its price was Rs 4,500 per share. Whereas, the face value was Rs 1 per share.
Back price was Rs 1,850 per share
However, in the year 2023, two more IT companies have done share buyback. In the month of February this year, Infosys had bought back shares worth Rs 9,300 crore. He had bought back his 6.04 crore shares. Then Infosys had fixed the average price of these shares at Rs 1543.1. That means it was bought at a price of Rs 1543.1 per share. Whereas the maximum buyback price was Rs 1,850 per share.
Investors who invested in it have become rich
If we look at the performance of TCS shares, it has given bumper returns to its investors within the last one week to last three years. It has given 35 percent return to its investors in three years. Similarly, the stock has given 17 percent return in one year, 10 percent return in three months and 2 percent return in one week. That means the investors who invested in it have become rich.
Source: www.tv9hindi.com
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