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Tata Consultancy Services said on Friday that the board of directors will consider a buyback of equity shares during the meeting on October 11. The quantum of buyback was not disclosed.
The company has a board meeting on October 11 to consider the second quarter results for the ongoing fiscal.
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TCS closed a Rs 18,000 crore share buyback in March 2022. The buyback was subscribed 7.52 times. According to data provided by stock exchanges, 30.11 crore shares were tendered against the offer size of 4 crore shares. Peer Infosys also completed its last round of Rs 9,300 crore share buyback in February this year. Crosstown rival Wipro closed a Rs 12,000 crore buyback in July.
TCS shares ended 0.8% higher on the BSE today. The buyback announcement was shared with the exchanges after market hours. The street expected TCS to announce a share buyback this quarter.
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