TCS’ Board of Directors will consider a proposal for buyback of equity shares of the company at its meeting to be held today. However, the company has not provided any additional details regarding the proposal.
Last year, the IT company had undertaken a Rs16,000cr mega buyback offer, entailing 5.61cr shares at a price of Rs2,850 per equity share.
TCS derives ~32% of its revenue from BFSI vertical, whereas Retail and CPG contribute 12.3% communication & media, life sciences & healthcare, manufacturing and technology contribute 7-8% each.
TCS is witnessing increasing traction in digital business where it signed its first USD50mn+ deal in FY18. TCS’ deal momentum remains strong as exhibited in the largest ever (USD2bn) deal signed with Transamerica and USD690mn+ deal signed with Prudential (for Diligenta).
Tata Consultancy Services Ltd is currently trading at Rs1,800.55 up by Rs8.3 or 0.46% from its previous closing of Rs1,792.25 on the BSE.
The scrip opened at Rs1,801 and has touched a high and low of Rs1,810.90 and Rs1,798 respectively. So far 11,38,277 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs6,86,176.39cr.
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