Last day to participate in Rs18,000 crore buyback of TCS, offer turns ex-date tomorrow; Stock dives 2%

21 Feb 2022 , 02:51 PM

TCS’ scrip was trading about 2% lower tracking the broader bearish markets on Monday. However, the performance comes ahead of the closure of its buy-back offer. TCS Rs18,000cr buyback offer will turn ex-date on February 22, 2022. 

To participate in this buyback offer of TCS, Monday is the last opportunity for dealing in the counter.

TCS’ board had approved this buyback on January 12, 2022, consisting of 4 crore shares or 1.1% of its equity share capital at a floor price of Rs4,500 per share.

Experts believe that the investors should make the most of this buyback opportunity as analysts anticipate a bullish tone on the counter. This could be a favorable opportunity for short-term investors amidst highly volatile domestic markets.

TCS corrected significantly last month giving investors an excellent opportunity to maximize their returns.

So, for retail investors today is the last day to benefit from TCS’ buyback option.

At around 2.49 PM, TCS was trading lower by 1.84% at Rs3,724 against its previous closing price of Rs3,793.90 on NSE. It plunged to day’s low of Rs3,705.55 and touched a high of Rs3,827.80 so far.