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Monday, January 17, 2022
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TCS shares witnesses spring over 2 percent

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The TCS shares witnessed a spring of over 2% after the company reported a spring of 12.2 % in the December quarter. 

At the Bombay Stock Exchange, the stock gained 2.25% to Rs 3,944.40 while it jumped to 1.63% to Rs 3,923 on the National Stock Exchange. 

TCS shares witnesses jump

TCS also announced buyback offer 

The TCS, which is sitting on cash and equivalent of over Rs 65,000 crore, also announced an up to Rs 18,000-crore buyback offer where it has committed to pay Rs 4,500 per share. 

The company reported a 12.2% spring in December quarter net profit at Rs 9,769 crore on handsome revenue growth. 

Reportedly, the company approved the proposal for buyback of up to four crore equity shares. The Board of Directors of the company approved a share buyback program of Rs 18,000 crore at a price of Rs 4,500 per share.

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