tcs announced buyback of shares



Tata Consultancy Services (TCS), India's largest IT company, on January 7 announced that its board of directors will consider a stock purchase proposal on January 12. Major software services are already scheduled to release its Q3FY21 results (October-December period). ) on that day.


The company’s last purchase, costing Rs 16,000 crore, opened on December 18, 2020 and closed on January 1, 2021.


Pursuant to Regulation 29 (1) (b) of the SEBI (Liability for Listing and Disclosure Requirements), 2015, this is to inform you that the Board of Directors will consider a proposal to repurchase equity shares of the Company, at its meeting. to be held January 12, 2022, "TCS said in a stock exchange file.



Alternatively, TCS will also consider the announcement of the third interim allocation to equity shareholders during the board meeting.


This will be the fourth purchase of IT bellwether. Prior to this, TCS has made three purchases in its history - in 2017, 2018 and 2020. Interestingly, the total purchase for the three items was Rs 16,000 crore.

India's largest IT company reported a combined profit of Rs 9,624 crore for the quarter ended September 2021 (Q2FY22), registering 14.1 percent annual growth (YoY), driven by broad-based demand and strong gains. Profit was also driven by another revenue increase of 21.6 percent YoY (increased by 54.1 percent QoQ).

Along with TCS, Infosys peers and HCL Technologies are also scheduled to release their Q3 report cards on January 12th.


At the time, TCS shares closed 1.35 percent above the Rs 3,858.90 on the NSE on January 7.

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