It will buy back upto 76.19 mn shares i.e. Stock buybacks are when companies buy back their own stock, removing it from the marketplace. New Delhi: India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to Rs 16,000-crore share buyback programme will commence on December 18 and close on January 1, 2021. or medium without express writtern permission of moneycontrol.com is prohibited. ... “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. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The last date of settlement of bids on the stock exchanges is Jan. 12, 2021. Information Technology major Tata Consultancy Services (TCS) announced that it will consider an equity share buyback proposal later this week on October 7 … They said that TCS share price in immediate short-term will hit Rs 2,900 per stock levels. A buyback essentially is a scheme by which a company repurchases a certain amount of its outstanding shares. 15 Earlier last year only, TCS successfully carried a share buyback program of Rs 16,000 crore which is touted as the largest share buyback so far in Indian history. 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. TCS unveiled its tagline “Experience Certainty” in 2005.In the same year, TCS won a deal valued at $847 million (£486 Million) to provide insurance back office transaction processing services to the UK-based Pearl Group.. TCS also acquired Sydney-based Financial Network Services for approximately US$ 26 million and Chilean business process outsourcing company, Comicrom, for $23 million. Company buyback shares with cash in hand or can fund buyback by taking debt as well. Download The Economic Times News App to get Daily Market Updates & Live Business News. It included a schedule of activities related to the buyback, which showed date of opening of the buyback offer as Dec. 18, 2020 and closing as Jan. 1, 2021. With … TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. 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. At the buyback price of … TCS announces share buyback of 5.33 crore shares for Rs 16,000 crore In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. Copyright © e-Eighteen.com Ltd. All rights reserved. The buyback is proposed to be made under the tender offer route. 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. Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted. 3-Point Analysis | Key factors behind the government’s first advance estimates of GDP, Ideas For Profit | The fundamentals that shape Ujjivan SFB’s immediate potential, Equity MF logs Rs 10,147 crore outflow in December, industry asset base hits Rs 31 lakh crore-mark, New H-1B selection process based wages on to come into effect on March 9, TCS announces share buyback of 5.33 crore shares for Rs 16,000 crore. Read more: TCS Q2 profit grows 6.7% to Rs 7,475 crore QoQ. Check out the latest share buyback in 2020 with buyback price and record date. Your Reason has been Reported to the admin. Reason why educators are using this for assessment, Rakesh Jhunjhunwala's Rs 7,600 crore bet paying off as Titan's growth phase kicks in, Elon Musk surpasses Jeff Bezos as world’s richest person, Over 3-5 years, Reliance can beat Sensex, Nifty, Is YES Bank's turnaround story complete? 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. Days Trial. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. 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 buyback … TCS’ investors clearly liked the buyback plan as the company’s stock soared over 4 per cent to close at ₹2,506.50 on Monday on the BSE. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. TCS acquired company name ICL 1903 in 1970. TCS rose 0.59% to Rs 1989.05 at 9:29 IST on BSE after the company set 18 August 2018 as the record date for the buyback offer. Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS. 2,100 per Equity Share. 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. 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. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. Going by the past trends and historic data TCS has given record breaking compounded returns to every investor. Prashant Kumar answers, ITC tanks on new cigarette policy; analysts say long-term story intact. Register now! Days Trial TCS board on June 15 had announced a Rs16,000 crore buyback. 1. Tomorrow is different. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. Get App. upto 1.99% of the paid-up equity capital. Copyright © e-Eighteen.com Ltd All rights resderved. Tender offer route 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. Reproduction of news articles, photos, videos or any other content in whole or in part in any form 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 … In October last year, TCS’ board had declared a special dividend of ₹40 per equity share. Why follow tips? In October last year, TCS' board had declared a special dividend of Rs 40 per equity share. Delhi Airport issues advisory for passengers returning from UK; here are the details, Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Positional and Intraday Trading Calls basis Noiseless Chart, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation. The announcement was made on Saturday, 4 August 2018. The last date of settlement of bids on the stock exchanges is January 12, 2021. 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. The promoter group will get Rs 11,730 crore of the nearly Rs 16,000 crore TCS will shell out of its reserves during the share buyback programme. This will alert our moderators to take action. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The offer, as per the schedule, will close on January 1, 2021. It included a schedule of activities related to the buyback, which showed date of opening of the buyback offer as December 18, 2020 and closing as January 1, 2021. 2,850 per Equity Share. Choose your reason below and click on the Report button. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. Event Details. TCS said in a regulatory filing on Wednesday. and … 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. 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. Companies repurchase the shares from the open market and over the time frame at a certain time or at regular intervals. The company has fixed a price of Rs 2,100/share, ~14% higher than CMP. In 2017, TCS successfully carried a share buyback programme of Rs 16,000 crore which was then touted as the largest share buyback in Indian capital market history. In the recently concluded buyback, Tata Sons tendered shares worth Rs 10,000 crore of Tata Consultancy Services. Read stories listed under on TCS buyback offer. Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted. TCS buyback offer. TCS said in a regulatory filing on Wednesday. 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. TCS has decided to buyback upto 5,33,33,333 equity shares and the floor price for this offer has been fixed at Rs 3,000 per share. The announcement was made on Saturday, 4 August 2018. 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 … Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. For reprint rights: Inciting hatred against a certain community, 15 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. 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 … 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. 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. TCS Buyback Details On 15th June’18, TCS has announced its second buy-back of Rs. Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. In a late night filing TCS on Sunday said its board of directors will consider a buyback of equity shares of the company at its meeting on October 7, 2020.The company will also provide for Rs. The company said: "The board has approved a proposal to buy back up to 5,33,33,333 equity shares, being 1.42 percent of the total paid-up equity share capital, at Rs 3,000 per equity share for an aggregate amount not exceeding Rs 16,000 crore (excluding taxes and related expenses), on a proportionate basis under the tender offer route using the stock exchange mechanism, subject to the approval of the members by means of a special resolution through a postal ballot. … TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. 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 … In 2017, too, TCS had undertaken a similar share purchase programme. Choose your winners rationally in 3 simple steps! India's largest IT services firm Tata Consultancy Services (TCS), on October 7, announced a share buyback proposal of Rs 16,000 crore. 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. Bse Sensex was up 223.83 points, or 0.60 % to Rs 16,000 crore new! 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