MARKETS

BSE Prices delayed by 5 minutes... Prices as on Aug 17, 2018   ABB India 1227 [ 2.35% ]ACC 1592.85 [ 2.11% ]Ambuja Cements Ltd. 228.75 [ 1.83% ]Asian Paints Ltd. 1399.8 [ 0.54% ]Axis Bank Ltd. 627.1 [ 0.52% ]Bajaj Auto Ltd. 2660.9 [ -0.23% ]Bank of Baroda 146 [ 2.17% ]Bharti Airtel 371.25 [ -0.22% ]Bharat Heavy Ele 73.85 [ 2.00% ]Bharat Petroleum 377.5 [ -0.13% ]Britannia Ind. 6617.05 [ 2.01% ]Cairn India Ltd. 285.4 [ 0.90% ]Cipla 648.15 [ 0.12% ]Coal India 281.2 [ -0.44% ]Colgate Palm. 1141.65 [ 0.04% ]Dabur India 455.45 [ 2.37% ]DLF Ltd. 210.1 [ 1.57% ]Dr. Reddy's Labs 2363.35 [ 0.66% ]GAIL (India) Ltd. 387.25 [ -1.64% ]Grasim Inds. 1044.2 [ 4.52% ]HCL Technologies 1003.45 [ 0.75% ]HDFC 1883.6 [ -0.39% ]HDFC Bank 2077.25 [ 0.08% ]Hero MotoCorp 3248.6 [ -1.14% ]Hindustan Unilever L 1780.8 [ 2.63% ]Hindalco Indus. 219.65 [ 1.57% ]ICICI Bank 340.05 [ 1.67% ]IDFC L 52.05 [ 4.41% ]Indian Hotels Co 127.3 [ 2.79% ]IndusInd Bank 1989.65 [ 0.33% ]Infosys 1431.35 [ 0.42% ]ITC Ltd. 313.75 [ 2.27% ]Jindal St & Pwr 198.6 [ 3.44% ]Kotak Mahindra Bank 1262.95 [ 1.45% ]L&T 1240.3 [ 0.60% ]Lupin Ltd. 879.35 [ 3.53% ]Mahi. & Mahi 961 [ 1.24% ]Maruti Suzuki India 9148.3 [ -0.58% ]MTNL 15.1 [ 1.00% ]Nestle India 10875.35 [ 0.07% ]NIIT Ltd. 92.15 [ 0.93% ]NMDC Ltd. 104.35 [ 2.81% ]NTPC 157.95 [ -0.19% ]ONGC 163.1 [ -0.61% ]Punj. NationlBak 83.45 [ 2.14% ]Power Grid Corpo 187.2 [ -0.05% ]Reliance Inds. 1203.45 [ 0.27% ]SBI 302 [ 3.18% ]Vedanta 215 [ 3.09% ]Shipping Corpn. 57.75 [ -0.09% ]Sun Pharma. 623.3 [ 0.60% ]Tata Chemicals 708.3 [ 1.91% ]Tata Global Beverage 242.15 [ 1.28% ]Tata Motors Ltd. 257.35 [ 2.47% ]Tata Steel 580.6 [ 2.20% ]Tata Power Co. 68.65 [ 2.16% ]Tata Consultancy 2011.85 [ 0.15% ]Tech Mahindra Ltd. 686.8 [ 2.95% ]UltraTech Cement 4281.7 [ 1.64% ]United Spirits 638.9 [ 1.86% ]Wipro Ltd 279.6 [ -0.09% ]Zee Entertainment En 504.35 [ 0.63% ]

News Details

You can view in detail.
TCS to consider share buyback on June 15 13/06/2018 12:06

India's largest software services firm Tata Consultancy Services (TCS) will consider a proposal to buy back shares at its board meeting to be held later this week.

"...the Board of Directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on June 15, 2018," TCS said in a BSE filing late last night.

The Mumbai-based company, however, did not disclose any further details about the buyback proposal.

During its Q4 FY2018 earnings call, TCS CEO Rajesh Gopinathan had said the company's intention is "to keep capital return close to 80-100 per cent of annual free cash flow".

Last year, TCS had undertaken a Rs 16,000-crore mega buyback offer, entailing 5.61 crore shares at a price of Rs 2,850 per equity share.

The buyback process had seen Tata Sons tendering over 3.60 crore shares, accounting for 64.2 per cent of the total shares bought back by the company.

Other large investors who participated in the buyback were Government of Singapore, Copthall Mauritius Investments Ltd and EuroPacific Growth Fund.

For FY2018, TCS returned Rs 26,800 crore to shareholders in both dividends and the buyback. For the full year, TCS' net cash from operations amounted to Rs 28,160 crore and free cash flow was Rs 26,360 crore.

Share buybacks typically improve earnings per share and return surplus cash to shareholders, while also supporting share price during period of sluggish market condition.

Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks. Many IT firms, including Infosys (Rs 13,000 crore) and HCL Technologies (Rs 3,500 crore) had undertaken buyback schemes last year.

LOAD MORE