The Board of Tata Consultancy Services has confirmed the record date for TCS Buyback 2020 as 28th November 2020. The company has announced the approval of buyback on 7th October 2020. TCS will buyback 5,33,33,333 shares at the price of ₹ 3000 per share. The company will offer ₹ 16,000 Crores for this buyback process.
“The Company has fixed Saturday, November 28, 2020, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the Buyback.”, mentioned in the company’s filling at NSE and BSE.
The share price of TCS has underperformed after the public announcement of the Buyback by approx. 3% and the share has given some positive moment of about 2 percent today after the announcement of TCS buyback 2020 record date.