TCS to buy back 2.85% of its shares
Tuesday, February 21, 2017, 9:39 AM
Tata Consultancy Services Ltd, will buy back shares worth Rs 16,000 crore at a fixed price of Rs 2,850 each. This is an 18.3% premium over TCS’s share price ahead of the announcement. TCS plans to buy back 56.1 million shares, or 2.85% of its equity capital. TCS shares rose 4.08% to Rs 2,506.50 apiece, a five-month high, on BSE on Monday.