On Wednesday, the country's largest company Tata Consultancy Services has made a big announcement for investors. TCS has today announced buyback of Rs 17 thousand crore. According to today's closing price, the company is going to give 15 percent return to the investors in this buyback. However, today the company's shares closed with a slight decline. However, experts had estimated that the company will bring a buyback of Rs 18 thousand crore and can give investors Rs 4,300 to Rs 4,500 for one share. Let us also tell you what kind of announcement has been made by TCS.
TCS announced buyback of Rs 17 thousand crores
Buyback of Rs 17 thousand crore has been approved in the board meeting of Tata Consultancy Service. Along with the buyback announcement, the IT company also released its second quarter results. This step of the company will bring confidence among investors. Due to this buyback, there may be a rise in the shares of the company. This is the 5th buyback from the company in the last 6 years. Buyback may also be announced by Wipro and Infosys in the coming days.
how much will be earned
TCS has announced buyback at Rs 4150 per share. This means that any investor who has TCS shares can get Rs 4150 for one share. If the returns are calculated from today's closing price, then the company is giving a return of Rs 540 i.e. 15 percent. That means, if someone has 100 TCS shares and he buys all of them, he can make a profit of Rs 54000.
Slight decline in TCS shares
Today, before the quarterly results of TCS, there was a slight decline in the company's shares. According to BSE data, the company's shares closed at Rs 3610.20 today with a decline of 0.52 percent. Whereas today the company's shares opened with a rise at Rs 3664. During the trading session, the company's shares also touched the day's lower level of Rs 3606.
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