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Indian-Commodity  :  Equity & Shares  :  TCS moves up on getting nod for Rs 16,000 crore share buyback plan

TCS moves up on getting nod for Rs 16,000 crore share buyback plan (18-Apr-2017)

Tata Consultancy Services (TCS) is currently trading at Rs. 2321.85, up by 1.00 points or 0.04% from its previous closing of Rs. 2320.85 on the BSE.

The scrip opened at Rs. 2325.00 and has touched a high and low of Rs. 2338.95 and Rs. 2315.10 respectively. So far 40197 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2740.00 on 12-Aug-2016 and a 52 week low of Rs. 2054.70 on 15-Nov-2016.

Last one week high and low of the scrip stood at Rs. 2442.00 and Rs. 2300.00 respectively. The current market cap of the company is Rs. 458666.36 crore.

The promoters holding in the company stood at 73.33%, while institutions and non-institutions held 22.24% and 4.44% respectively.

TCS has received its shareholders approval for Rs 16,000 crore share buyback plan. The buyback programme, which was passed through a special resolution, saw 99.81% of the total number of valid votes being cast in favour of the proposal. The proposed shares under the buyback represent 2.85% of the total paid up equity share capital at Rs 2850 per equity share. In February, the board of TCS had approved the proposal to buy back up to 5.61 crore equity shares for an aggregate amount not exceeding Rs 16,000 crore.

TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.


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