TCS buyback: Last date to participate today; golden opportunity to make sure shot money in weak market, a must apply offer-Anil Singhvi
The last date to apply for TCS buyback offer to ensure that shares remain in your demat account on February 23, the record date of the offer, is today, February 21, 2022.
The last date to apply for TCS buyback offer to ensure that shares remain in your demat account on February 23, the record date of the offer, is today, February 21, 2022. Tata Consultancy Services (TCS) has approved a buyback of 4 core shares (1.1% of its equity size) at a price of Rs 4500 per share.
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Zee Business Managing Editor Anil Singhvi has strongly recommended retail investors to apply for the buyback offer floated by IT behemoth. " It is a golden opportunity. A must apply offer to make money in a weak market. The premium offered by TCS is very attractive this time around. Also, the acceptance ratio in retail category is very high.," said Anil Singhvi.
The Market Guru said one should apply for this offer from multiple accounts and suggested keeping some room to ensure that the share value does not exceed the retail category limit of Rs 2,00,000 as set by the IT giant.
Being very bullish, Singhvi said even if one does not have money to buy TCS, they can sell some other shares and buy TCS to be eligible to participate in this buyback offer." This is a sure shot opportunity to make money in a weak market in just one month's time," he added.
TCS, at its board meeting held on January 12, approved to buy back four crore shares (1.1 per cent of its equity) through a tender offer at a price of ₹4,500 a share.
India's largest IT company Tata Consultancy Services (TCS), at its board meeting held on January 12, has announced Rs 18,000-crore buyback offer. The IT major will buyback 4 crore equity shares at a price of Rs 4,500 per share.
What is buyback of shares?
The buyback is a corporate action in which a company buys back its shares from the existing shareholders, usually at a price higher than the market price. When the company buys back its shares, the number of shares outstanding in the market reduces. A buyback allows companies to invest in themselves. By reducing the number of shares outstanding on the market, buybacks increase the proportion of shares a company owns.
At 10.30 am, shares of TCS were trading with over 2% discount on its previous price to Rs 3709.50 a share on the BSE on Monday.
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