TCS share price surges 4.5% on opening; board to consider equity share buyback proposal later this week
Information Technology major Tata Consultancy Services (TCS) announced that it will consider an equity share buyback proposal later this week on October 7 when the Board of the company meets ahead of the quarterly results. “This is to inform you that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 7, 2020,” TCS said in regulatory filing on Monday morning. Shares of the IT giant have surged over 54% from its March lows. TCS shares opened 4.54% higher at Rs 2,637 per share.
The IT firm has initiated two equity share buybacks in the recent past, both of which were for an aggregate amount of Rs