TCS considers share buyback; stock soars high
Shital Jibhe / 16 Feb 2017
After Cognizant's USD 3.4 billion buyback plan, Tata Consultancy Services (TCS) on Thursday, said its board would also consider buyback of equity shares, in order to boost investors' confidence in the company.
After Cognizant's USD 3.4 billion buyback plan, Tata Consultancy Services (TCS) on Thursday, said its board would also consider buyback of equity shares, in order to boost investors' confidence in the company.
The IT company informed the BSE that its consideration of shared buyback would be considered at a board meeting to be held on February 20. Following this, TCS is soaring high, up by Rs 41.10 or 1.70 per cent.
Till December quarter, TCS had total investments and cash of Rs 431.69 crore, up from Rs 364.84 crore as compared to the last quarter.
Investors are boosted with confidence as TCS received 15 Brandon Hall Group Awards at the Brandon Hall Group's HCM Excellence Awards on February 14, 2017. The stock surged 1.3 per cent in the morning trade to hit a five-month high of Rs 2,447.