![TCS buyback: Opening, closing dates fixed; retail entitlement at 17%](https://images.assettype.com/fortuneindia%2F2023-10%2Fcb7b14d3-ea65-42fb-926e-c86e40065b02%2FGettyImages_1248474204.jpg?rect=0,41,594,297&w=300&q=95)
TCS buyback: Opening, closing dates fixed; retail entitlement at 17%
TCS plans buyback of 4,09,63,855 equity shares for ₹17,000 crore at ₹4,150 apeice
TCS plans buyback of 4,09,63,855 equity shares for ₹17,000 crore at ₹4,150 apeice
TCS shares declined 1.2% to hit a low of ₹3,468 as the stock turned ex-date for share buyback today.
TCS will acquire a total of 4,09,63,855 shares at a 13% premium over Wednesday's market closing price of ₹3,613
TCS is expected to post constant currency revenue growth of 1% with 20 bps cross currency headwinds translating into 0.8% QoQ dollar revenue growth.