TCS Buyback: TCS may consider share buyback in the upcoming meeting, board of directors meeting will be held on October 11
TCS Buyback: TCS today said the company will consider the share buyback proposal in its board meeting next week. The TCS board meeting will be held on October 11. However, the company has not disclosed in its BSE filing how many shares it will buy back this time. TCS had earlier announced a share buyback of Rs 18000 crore in January 2022.
Muskan 
The country's largest IT company Tata Consultancy Services (TCS) today said that the company will consider the share buyback proposal in its board meeting to be held next week.
The board of directors of TCS will meet on October 11. The company has given this information in its BSE filing today.
However, the company did not disclose in its BSE filing how many shares it would buy back this time. Earlier, TCS had announced a buyback of its shares in January 2022 in which the size of the buyback was Rs 18,000 crore.
The company can also announce the results of the second quarter of the current financial year in the board of directors meeting to be held on October 11.
It has been an ups-and-down journey for IT stocks for almost two years. Stocks fell sharply amid tough global macro but saw some nice recovery earlier this year.
Buybacks are generally done to increase the equity value of the company and make it more financially attractive.
On the last trading day, Friday, October 6, the company's shares increased by Rs 31.90 and closed at Rs 3,621. TCS shares have risen more than 18 percent in the last year.
According to the official website of TCS, Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been working with many of the world's largest businesses for the last 50 years.
According to the company, innovation and collective wisdom with a bigger purpose can change all of our futures. TCS was established in 1968. It is one of the first IT companies in India.
