or medium without express writtern permission of moneycontrol.com is prohibited. This is the 3rd buyback announced by TCS in the last 4 years (2017, 2018 & 2020). Copyright © e-Eighteen.com Ltd All rights resderved. On Friday, Tata Consultancy Services reported a consolidated net profit of Rs 8,701 crore for the December-ended quarter, a 16.4% jump from the previous quarter and a … Going by the past trends and historic data TCS has given record breaking compounded returns to every investor. Firstly, to be eligible for the buyback the investor should have shares of Wipro Buyback 2020 in demat or physical form as on record date [11.12.2020] 2. The 1:1 bonus issue by TCS in June 2018 and its buyback in September 2018 brought Tata Sons a windfall of around Rs 22,500 crore in buybacks and dividend income in … Tata Consultancy Services Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 20, 2017 has approved a proposal to buyback up to 5,61,40,351 Equity Shares (Five crore sixty one lakh forty thousand three hundred and fifty one only) of the Company for an aggregate amount not exceeding 16,000 crore ( Rupees Sixteen thousand crore … +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. Stock buybacks are when companies buy back their own stock, removing it from the marketplace. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore . Once you have shares in demat, you can participate in the buyback process which is opening from [29.12.2020 to 11.01.2021] by selling your shares through your broker on NSE or BSE. Tender offer route TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Tata Sons Pvt Ltd, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services (TCS) in the IT firm's recently concluded share buyback. They are of the opinion that TCS share price history suggests that on every share buyback announcements TCS shares rise at least 5 per cent and they are expecting it to happen today as well. The last date of settlement of bids on the stock exchanges is January 12, 2021. The buyback … Check out the latest share buyback in 2020 with buyback price and record date. 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In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. 172@29@17@246!~!172@29@0@53!~!|news|business|markets|tcs-announces-share-buyback-of-5-33-crore-shares-for-rs-16000-crore-5934901.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false, Stimulus hopes push global equity markets to new records, bonds hit 11-month lows, PNB Scam: Judgment day in Nirav Modi UK extradition case on February 25, Farmers' Protest : Stalemate continues as Centre rules out repeal of agri-reform laws; next meeting on January 15, President Donald Trump won't attend Joe Biden's inauguration on January 20, Tamil Nadu reverses order allowing 100% occupancy in theatres after Centre's objection, Webinar Presented by Knowlarity & Freshworks. Tata Sons, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services … The announcement was made on Saturday, 4 August 2018. Sharp Insight-rich, Indepth stories across 20+ sectors, Access the exclusive Economic Times stories, Editorial and Expert opinion, Mirae Asset Emerging Bluechip Fund Direct-Growth, ICICI Prudential Bluechip Fund Direct-Growth. 1. Mumbai: Tata Consultancy Services Ltd (TCS) said on Monday that it would buy back shares worth Rs16,000 crore at a fixed price of Rs2,850 each. Event Details. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. In October last year, TCS’ board had declared a special dividend of ₹40 per equity share. This will alert our moderators to take action. Last month, TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not … The announcement was made on Saturday, 4 August 2018. Reproduction of news articles, photos, videos or any other content in whole or in part in any form The company has fixed a price of Rs 2,100/share, ~14% higher than CMP. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. Get App. In 2018, TCS had undertaken a share buyback of about Rs 16,000 crore, while it had conducted a similar share purchase exercise in 2017 also. 160 bn (max.). Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. TCS buyback: Here’s how market reacted to previous 5 biggest buybacks in Indian history, NEW DELHI: The TCS announcement of the biggest share buyback in the history of Indian. The Board of Directors of Tata Consultancy Services Ltd, at its meeting held on February 20, 2017 has approved a proposal to buyback up to 5,61,40,351 Equity Shares (Five crore sixty one lakh forty thousand three hundred and fifty one only) of the Company for an aggregate amount not exceeding Rs 16,000 crore, being 2.85% of the total paid up equity share capital, at Rs. Tomorrow is different. ... “Activa has now created a new first as the only scooter brand in the history of Indian two-wheeler industry to achieve 2.5 crore customers-mark,” Honda Motorcycle & Scooter India (HMSI) said in a statement. The offer, as per the schedule, will close on January 1, 2021. India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to ₹16,000-crore share buy-back programme will commence on … Companies repurchase the shares from the open market and over the time frame at a certain time or at regular intervals. TCS had carried out a Rs 16,000 crore buyback of 5.61 crore shares, or 3 percent of its total equity, at Rs 2,850 per equity share last year. Stock buybacks increase the value of the remaining shares because there is now less common stock outstanding and company earnings are split among fewer shares. Company buyback shares with cash in hand or can fund buyback by taking debt as well. The Board of Directors of Tata Consultancy Services Ltd, at its meeting held on June 15, 2018 has approved a proposal to buyback up to 76,190,476 Equity Shares (Seven crore sixty one lakh ninety thousand four hundred and seventy six only) of the Company for an aggregate amount not exceeding Rs 16,000 crore (Rupees Sixteen Thousand crore only), being 1.99% of the total paid up … In 2018, TCS announced a Rs 16,000 crore buyback plan at Rs 2,100 per equity share which was about 14 per cent premium from the previous closing price. TCS board on June 15 had announced a Rs16,000 crore buyback. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. In the recently concluded buyback, Tata Sons tendered shares worth Rs 10,000 crore of Tata Consultancy Services. Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. The buyback is proposed to be made under the tender offer route. Stock Buyback Definition. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. With cash in hand or can fund buyback by taking debt as well TCS board to consider share proposal... 7,475 crore QoQ TCS share price in immediate short-term will hit Rs 2,900 per stock levels ₹40 equity. 15 Days Trial +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999.! 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