TCS is India’s second most valuable company in terms of current market capitalization. Reliance Industries Limited TCS has a market cap of Rs 14.58 lakh crore.
Reliance’s market value jumps to Rs 16 lakh crore, up 181%
In its regulatory filing on Sunday, TCS said, “At its meeting on October 7, the company’s directors will take a decision on the equity share buyback proposal.” Benny has seen a record rise in share value.
Equity shareholders are also likely to announce a second interim dividend based on its September quarter results.
Earlier in 2018, the company had bypassed 16,000 crore shares. There was a stock buyback in 2017 as well. It is now possible to run a huge bypass again.
Market experts estimate this is good news. “Most IT companies have excess cash, which can be used as a dividend or buyback to shareholders,” says Jyoti Roy, an equity strategist at Angel Broking Ltd.