Tata Consultancy Service Stock Buyback 2023: The upcoming TCS buyback in 2023 has set its final date for compiling the roster of eligible shareholders of Tata Consultancy Services (TCS) on November 25th. Recent disclosures from the Indian IT behemoth to the country's stock market platforms confirm the fixation of November 25th, 2023, as the crucial TCS buyback record date. Notably, this record date is established on an ex-date basis, signifying that TCS shares will trade ex-buyback on November 24th, 2023, which falls on the upcoming Friday. Investors purchasing TCS shares until November 24th and retaining them on November 25th stand eligible to offer these shares in the Rs.17,000 crore buyback initiative spearheaded by the Tata group entity.
Market analysts foresee a possible downturn for IT firms in the forthcoming quarters, primarily due to economic hurdles prevalent in the US and European regions. Given that TCS garners a substantial portion of its revenue from these regions, expectations loom for subdued performance in the impending quarters. Consequently, this presents an advantageous window for short-term investors to consider tendering their TCS shares amidst this buyback proposition, currently priced at Rs.4,150 per share.
The impending TCS buyback is prompting shareholders to evaluate their position as the crucial record date approaches next week.