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Thursday 2 March 2017

TCS gains as promoters to participate in share buyback : 02 March 2017

 BSE, 65,000 shares were traded on the counter so far as against the average daily volumes of 97,698 shares in the past one-quarter. The stock had hit a high of Rs 2,503.25 and a low of Rs 2,479.10 so far during the day.
The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2,054.70 on 15 November 2016. It had outperformed the market over the past one month till 1 March 2017, advancing 14.32% compared with the Sensex`s 3% rise. The scrip had also outperformed the market over the past one-quarter, gaining 9.42% as against the Sensex`s 9.13% rise.
The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.
TCS had last month announced that its board approved a buyback of up to 5.61 crore equity shares, aggregating up to 2.85% of the fully paid-up equity share capital of the company, at Rs 2,850 per equity share, for an aggregate amount not exceeding Rs 16000 crore, from the shareholders of the company, on a proportionate basis through a tender offer.
Total promoter holding in TCS stood at 73.33% end December 2016.
On a consolidated basis, TCS` net profit rose 3.2% to Rs 6814 crore on 1.54% increase in net sales to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.
TCS is an IT services, consulting and business solutions organization. 


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