INSUBCONTINENT EXCLUSIVE:
TCS gained 3.24 per cent to Rs 3,979.90 on the BSE.New Delhi: Shares of Tata Consultancy Services on Monday jumped over 3 per cent after the
company said its board will consider a buyback proposal on January 12.The stock gained 3.24 per cent to Rs 3,979.90 on the BSE.On the NSE,
it jumped 3.23 per cent to Rs 3,978."...the board of directors will consider a proposal for buyback of equity shares of the company, at its
meeting to be held on January 12, 2022," a regulatory filing said on Friday.No other details of the buyback proposal were disclosed.The
board of the Mumbai-based company is scheduled to meet on January 12 to approve and take on record the financial results of the company for
the third quarter and nine months ending December 31, 2021.At the end of the September 2021 quarter, TCS had cash and cash equivalents of Rs
51,950 crore.TCS' previous buyback offer of around Rs 16,000 crore had opened on December 18, 2020, and closed on January 1, 2021
Over 5.33 crore equity shares were bought back under the offer for Rs 3,000 apiece.In 2018, TCS had undertaken a share buyback programme
worth up to Rs 16,000 crore
The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares
In 2017 too, TCS had taken a similar share purchase programme.(This story has not been edited by TheIndianSubcontinent staff and is
auto-generated from a syndicated feed.)
