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. 


TCS gains as promoters to participate in share buyback : 02 March 2017  TCS gains as promoters to participate in share buyback : 02 March 2017 Reviewed by Money99 on 13:26:00 Rating: 5

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