TCS Buyback date 2022 program was approved after the software firm had logged a net profit of Rs 8,701 crore in the year-ago period. Tata Consultancy Services, the country’s largest software services firm has approved Rs 1,800 crore share buyback with the shares priced at Rs 4,500 apiece.
Revenue of the IT firm grew 16.3 percent in the quarter under review to Rs 48,885 crore from Rs 42,015 crore in the corresponding period last fiscal year. The company added more than 28,000 employees on a net basis, taking the total number of employees to 5,56,986 as of December 31, 2021.
TCS Buyback Process
TCS buyback process for the retail category will be beneficial if the maximum number of shares is priced within the 2lakhs limit. The calculation will be based on the closing price of TCS equity shares on its record date. For example, if the stock closes at Rs 3500 on its record date, then you can tender a maximum of 57 shares in the retail category as 57*3500 = Rs 199,500 (which is below the 2 Lakhs Limit).
TCS Buyback Number Of Shares
Considering the above example, less than 57 shares is fine but better to avoid above 57 shares or Rs 2 Lakhs limit. To be eligible for the share buyback, investors should hold TCS’s shares in their Demat account as on record date. The buyback record date is not yet announced. Not only the Demat account but also the investors who have the company shares should hold in the physical form as on record date and fill out the form as per instructions of the company.
TCS Buyback Date Details
TCS buyback date is yet to be announced whereas the ex-dividend date is 20th January 2022 and the payment date of dividends is 07th February 2022. TCS buyback record date is fixed on Wednesday, 23rd February 2022.
TCS Buyback Price
TCS announced a share buyback price of Rs 1,800 crore with the shares priced at Rs 4,500 per share. After announcing Rs 1800 Cr share buyback, the IT firm also announced a dividend of Rs 7 per share.
Why Should You Go TCS Share Buyback?
- Stellar Q3 results helped TCS hit $25 billion in Annual Revenue.
- The company’s Q3 revenue stood at ₹48,885 Cr with a YoY growth rate of 16.3%.
- The number of women employees crossed the 200,000 mark.
- Industry-leading operating margin stood at 25%.
- The company had a strong client addition globally.
- Net income at ₹9,769 Cr.
- Net cash from operations stood at ₹10,853 Cr or 111.1% of net income.
- Its IT services attrition rate (LTM) in the third quarter stood at 15.3%.
- With 43,000 freshers getting hired in H1, the company hired 34,000 fresh graduates in Q3 which is higher than its full-year fresher hiring numbers in prior years.
- Part of the pandemic period and a work from home environment, the company exercised various operating levers in the third quarter to mitigate the higher costs and manage its employee expenses.