TCS To Consider Share Buyback Proposal, Second Interim Dividend On October 11

Tata Consultancy Services Ltd informed via an exchange filing on Friday that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 11, 2023. In addition to the share buyback proposal, the company is also expected to consider and approve the earnings for the quarter and the six months ended September 2023 on the said date.

Earlier, in an exchange filing dated September 29, 2023, the company said that on October 11, 2023, the Board of Directors of Tata Consultancy Services Limited will also consider the declaration of a second interim dividend to the equity shareholders.

The second interim dividend, if declared, shall be paid to the equity shareholders of the Company whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as of Thursday, October 19, 2023, which is the Record Date fixed for the purpose.
TCS shares closed 0.87% at Rs 3620.20 per share on Friday. The stock has a 52 Wk High and 52 Wk low of 3,634.25 and 3,013.05 respectively.

TCS shares closed higher today as a positive sentiment prevailed in the market when the Reserve Bank of India kept the repo rate unchanged at 6.50% today. High-interest rates are considered unfavorable for IT companies usually, and thus the fourth back-to-back pause in interest rates by RBI proved to be positive for the shares of the IT company. In the last one year, TCS shares have gained almost 515%, while the stock's YTD performance is up 359%.