TCS board will consider buying back shares on Wednesday

Mumbai The board of directors of Tata Consultancy Services (TCS), a domestic multinational giant in the information technology (IT) sector, will consider the proposal to buy back shares.

TCS said in a regulatory notice sent to the stock exchanges that the board of directors of the company would consider the proposal for share buyback in a meeting to be held on October 7, 2020.

In a regulatory notice, TCS said that during this time the board of directors would also consider the company’s September quarter financial results and declare a second interim dividend.

It is noteworthy that in the year 2018 also, the company had implemented the Rs 16,000 crore share buyback plan. The purchase was made at the rate of Rs 2,100 per share, in which about 7.61 crore shares were bought back. In the year 2017 too, the company had implemented a similar share purchase program.

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