Mumbai: One of the biggest Tech services company Tata Consultancy Services (TCS) had recently started the buyback offer. The shareholders have already started the re-buying program on May 18th itself. The offer is valid till 31st this month.
TCS is now giving buyback of about Rs. 16000 crores. Recently in 2012, Reliance Industries too offered a buy back of Rs. 10400 crores and became the highest buyback ever. But now TCS crossed that and topped the list.
The report also stated that the working span of the board of director Vijay Kelkar also got completed. TCS stated that they are taking the permissions from may 18th and will continue till may 31st. Shareholders who are eligible will get the letter of offer from May 16th onwards.
On the other side, even Infosys too as a part of capital automation offered a buyback of Rs. 13000 crores. Cognizant bought a 3.4 billion dollar share, and HCL Technologies bought shares worth Rs. 3500 crores.
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