shares of Tata Consultancy Services (TCS) After rising over 3% in early deals on Monday on the Bombay Stock Exchange (BSE), the company announced that its board will consider a share buyback proposal along with its third quarter earnings in a meeting to be held on Wednesday, January 12.
“..You are informed that the Board of Directors in its meeting to be held on January 12, 2022 will consider the proposal for buyback of equity shares of the company,” TCS said in a filing on Friday. The board of India’s largest IT services provider will also consider declaration of third interim dividend to equity shareholders during the board meeting.
TCS said the third interim dividend, if declared, shall be paid to the equity shareholders of the company, whose names appear in the register of members of the company or in the records of the depositories as beneficial owners of the shares as on Thursday, January 20. give. , 2022, which is the record date fixed for the purpose.
Brokerage house Edelweiss, in a note on the preview of IT sector results for the third quarter, said that it believes that the main things to watch out of this quarter are demand, job losses, sub-contract expenditure and Update on customer budget commentary. Typically, Q3 is a relatively low-growth quarter due to higher furloughs; In this quarter, the seasonal furlough will be lower due to strong demand.
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