Last updated: 20 Nov, 2020 | 11:51 am
TCS has fixed November 28th as the record date for its ₹16,000 cr buyback programme. Accordingly, in case you continue to hold the shares till that date, you will be eligible to participate in the buyback.
Outlook on TCS business
The company had announced stellar numbers in Q2FY21. Global brokerages find TCS to be relatively better placed to navigate the current challenges and gain market share from smaller IT peers.
TCS shares have run up by more than 45% since April this year. While tendering the shares during the buyback is a lucrative opportunity (gain of about 13% from CMP), the acceptance ratio is likely to be lower, as the company is buying back just 1.42% equity from a total of 375 crore shares. The remaining shares can be held for the long-term as well, as the outlook on the stock remains positive.