TCS gains ~1% ahead of buyback opening today

9 Mar 2022 , 11:35 AM

Tata Consultancy Services Limited’s stock gained nearly 1% in Wednesday’s early morning trade as the company’s share buyback process get moving.

The major IT player has previously informed the shareholders of the opening of its mega buyback of equity shares worth Rs18,000 crore on March 9, 2022, which shall continue till March 23, 2022.

At around 11.30 AM, shares of Tata Consultancy were trading with a slight uplift of 0.65% at Rs3,623.35 per piece as against its previous closing price of Rs3,599.95.

So far, it touched the day’s high and low of Rs3,644 and Rs3,599 respectively.

TCS is planning to buyback 4 crore shares at a premium of 20% at Rs4.50 per piece.

The company informed the investors that small investors, holding 56 shares or lesser, on the record date will be under the reserved category whilst all other investors fall in the general category.