TCS Board announces Rs. 18000 Cr Buyback

IT giant Tata Consultancy Services (TCS) Board approves a Rs 18,000-crore share buyback. It is its fourth biggest buyback exercise in the past 5 years. It fixed the buyback price at Rs. 4500 apiece. During this buyback operation it will buy 4 Cr. shares. This is equivalent to 1.08% of its total paid-up share capital. 

In its last buyback operation, TCS bought shares Rs. 3000 apiece. It was a Rs. 16000 Cr Offer. It did similar feats in 2017 and 2018. 

Right now, the stock is trading around Rs. 3859.9o on Wednesday i.e., 12 January 2022. This means the buy-back price of Rs. 4500 will be at 16.58% premium to Wednesday closing price.

The company’s shares were up 30.59% in 2021. In 2022, it rose around 3.19% till date. Its market capital is around Rs. 1,42,000 Crores.