Tata Consultancy Services (TCS) has received approval from shareholders for share buyback plan up to Rs 16,000 crore. Last month, TCS' board of directors had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore. The members of the company have duly passed the special resolution approving the buyback.
The voting, which started on October 20 and ended on November 18, saw 99.57 per cent of the votes being cast in favour of the buyback offer. There was 100 per cent voting in favour of the proposal by the promoters, 98.11 per cent by public institutional shareholders and 98.43 per cent by other shareholders.
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years.
| Company Name | CMP |
|---|---|
| TCS | 2034.05 |
| Infosys | 1000.60 |
| HCL Technologies | 1072.00 |
| Wipro | 170.40 |
| Tech Mahindra | 1405.20 |
| View more.. | |
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