India’s leading IT company, Tata Consultancy Services (TCS) disclosed to stock exchanges on Friday that its Board will consider a proposal for buyback of shares on January 12.
“Pursuant to Regulation 29(1 )(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, 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 January 12, 2022,” TCS said in a regulatory filing.
No more details about the meeting regarding the buyback proposal were disclosed. TCS’ Board has scheduled a meeting on January 12 to approve and announce the company’s financial results report for quarters three and nine months ending December 31, 2021. Tata Consultancy Services is a leading Indian multinational IT service and consulting company. And, As of February 2021, TCS is the largest IT services company in the world by market capitalisation.
The total revenue of TCS as of 2021 is estimated to be INR 1.67 lakh crores (USD 22 Billion) and the Information Technology giant has 5,09,057 employees as of July 2021. Today, Shares of Tata Consultancy Services (TCS) ended at Rs 3853.50 per equity share.