Read stories listed under on TCS buyback offer. In 2017, too, TCS had undertaken a similar share purchase programme. 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 … Reproduction of news articles, photos, videos or any other content in whole or in part in any form Your Reason has been Reported to the admin. 3. Company buyback shares with cash in hand or can fund buyback by taking debt as well. Coronavirus Essential | States conduct second dry run for vaccinations; Pfizer vaccine appears effective against new COVID-19 variants, says study. 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. TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore . 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 buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. ... “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. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. ... “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. TCS buyback offer. 160 bn (max.). The last date of settlement of bids on the stock exchanges is Jan. 12, 2021. 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. 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. 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. Before TCS announced India’s biggest share buyback of Rs 16,000 crore share via the tender route, Reliance Industries carried out the biggest share buyback worth Rs 10,440 crore between February 1, 2012 and January 19 2013. 2,100 per Equity Share. Register now! and … 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. The last date of settlement of bids on the stock exchanges is January 12, 2021. In October last year, TCS’ board had declared a special dividend of ₹40 per equity share. Copyright © e-Eighteen.com Ltd All rights resderved. e-paper. Download The Economic Times News App to get Daily Market Updates & Live Business News. Event Details. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. Stock Buyback Definition. Choose your reason below and click on the Report button. upto 1.99% of the paid-up equity capital. The announcement was made on Saturday, 4 August 2018. 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 … The company has fixed a price of Rs 2,100/share, ~14% higher than CMP. Prashant Kumar answers, ITC tanks on new cigarette policy; analysts say long-term story intact. 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. or medium without express writtern permission of moneycontrol.com is prohibited. 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. 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. 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. TCS acquired company name ICL 1903 in 1970. Going by the past trends and historic data TCS has given record breaking compounded returns to every investor. 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. 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? 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. The Board of Directors of Tata Consultancy Services Ltd, at its meeting held on June 15, 2018 has approved a proposal to buyback up to 76,190,476 Equity Shares (Seven crore sixty one lakh ninety thousand four hundred and seventy six only) of the Company for an aggregate amount not exceeding Rs 16,000 crore (Rupees Sixteen Thousand crore only), being 1.99% of the total paid up … 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. … The offer, as per the schedule, will close on January 1, 2021. In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. The buyback … 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. In October last year, TCS' board had declared a special dividend of Rs 40 per equity share. The buyback is proposed to be made under the tender offer route. 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. Companies repurchase the shares from the open market and over the time frame at a certain time or at regular intervals. 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. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. 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. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies. 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. At the buyback price of … The announcement was made on Saturday, 4 August 2018. Tender offer route 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 … For reprint rights: Inciting hatred against a certain community, 15 A buyback essentially is a scheme by which a company repurchases a certain amount of its outstanding shares. The Board of Directors of Tata Consultancy Services Ltd, at its meeting held on June 15, 2018 approved a proposal to buyback up to 76,190,476 Equity Shares of the Company for an aggregate amount not exceeding Rs 16,000 crore being 1.99% of the total paid up equity share capital, at Rs. Tata Consultancy Services Limited (TCS) Board of Directors of the Company at its meeting held on 15 June 2018 has approved a proposal to buy back up to 7,61,90,476 Equity Shares (Seven crores sixty one lakh ninety thousand four hundred and seventy six only) of the Company for an aggregate amount not exceeding 16,000 crore (Rupees sixteen thousand crore only) (hereinafter … 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. Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. 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. 15 TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. 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. Days Trial Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. 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. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. The offer price for the buyback is 9.6 percent higher than the stock's closing at Rs 2,737.40 on BSE on October 7. This is the 3rd buyback announced by TCS in the last 4 years (2017, 2018 & 2020). 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. In the recently concluded buyback, Tata Sons tendered shares worth Rs 10,000 crore of Tata Consultancy Services. Days Trial. After acquiring the company TCS started building software for a common process like financial accounting, share registry work, sales analysis, and inter-bank reconciliation, provident fund accounting, etc. TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. This will alert our moderators to take action. Check out the latest share buyback in 2020 with buyback price and record date. Stock buybacks are when companies buy back their own stock, removing it from the marketplace. The 1:1 bonus issue by TCS in June 2018 and its buyback in September 2018 brought Tata Sons a windfall of around Rs 22,500 crore in buybacks and dividend income in … 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. 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. Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS. TCS Buyback Details On 15th June’18, TCS has announced its second buy-back of Rs. Why follow tips? 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 … Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted. Read more: TCS Q2 profit grows 6.7% to Rs 7,475 crore QoQ. 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. 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. Choose your winners rationally in 3 simple steps! Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted. 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. Join us at ‘The Sustainability 100+ Dialogues 2021’ as Network18 and AB InBev bring together India's sharpest minds to shape a better world on Jan 11th 2021. TCS said in a regulatory filing on Wednesday. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. Get App. 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. The company’s cash reserves stood at Rs 58,500 crore as of September 2020. Tomorrow is different. India's largest IT services firm Tata Consultancy Services (TCS), on October 7, announced a share buyback proposal of Rs 16,000 crore. 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. 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. TCS board on June 15 had announced a Rs16,000 crore buyback. Copyright © e-Eighteen.com Ltd. All rights reserved. 1. ... including large IT companies such as TCS… 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. 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 … Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. 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. 2,850 per Equity Share. 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. With … TCS said in a regulatory filing on Wednesday. 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. It will buy back upto 76.19 mn shares i.e. This is the 3rd buyback announced by TCS in the last date of of! Has fixed a price of Rs 2,100/share, ~14 % higher than the stock is... Is the 3rd buyback announced by TCS in the last date of settlement of bids on stock. Exchanges is Jan. 12, 2021 was made on Saturday, 4 August 2018 & Co. Ltd. All rights.. Percent higher than the stock 's closing at Rs 3,000 per share certain community, 15 Days +Includes... Too, TCS ' board had declared a special dividend of Rs 2,100/share, ~14 % higher the... 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