Markets finished with modest losses owing to weak global cues as the trade spit between the U.S and China intensified. The BSE index Sensex lost 261.52 points closing the day at 35,286.74, with only 4 stocks in the green against 27 stocks in the red. The Nifty50 index fell 89.40 points to settle at 10,710.45 […]
Share benchmark indices ended the day from flat to negative note on Monday, based on weak global cues amidst concerns over a possibly long global trade war between the U.S and China. Markets turned range-bound with Nifty ending the session 17.85 points lower at 10,799.85 while the BSE Sensex closed lower by 73.88 points to […]
Domestic equity markets closed on a flat note with marginal gains supported by robust buying in IT blue chips such as TCS and Infosys. On the sectoral frontage, IT and pharma stocks outperformed, on the back a sharp fall in the rupee. Benchmark index of BSE Sensex, ended higher by 22.32 points at 35,622.14 while Nifty […]
Indian share markets opened on negative note on Thursday, with the Sensex falling over 100 points and the NSE Nifty50 down almost 40 points, while the Nifty shed 50 points in trade today, after the US Federal increased interest rates and signlled at two more hikes, this year. Here are a few stocks that were […]
Country’s largest software services company TCS (Tata Consultancy Services) is mulling a proposal of shares buy-back at its board meeting to be held on 15 June 2018. Keeping this prospects, TCS shares rallied in Wednesday’s morning trade by surging upto 3 percent to Rs. 1830, hitting near 52-week high. On the National Stock Exchange, shares of TCS touched an intraday a high of Rs. 1,821 in today’s’ morning trade.
The Mumbai-based IT major, however, did not reveal more details about the proposal of buyback. In last year, TCS had carried out a Rs.16,000-crore mega buy-back offer, bringing about 5.61 crore shares at a price of Rs 2850 per equity share.
Share buybacks help improve the earnings per share (EPS) and return excess cash to share-holders, together supporting share prices during slow-moving market conditions.
Indian IT firms have been under stress to return surplus cash on their books to share-holders by way of dividends and buybacks. Some other IT companies, including Infosys Limited and HCL Technologies Limited in last year, had undertaken buyback offers of Rs. 13,000 crore and Rs. 3,500 cores, respectively.
At the time of this updation, the stock of TCS was quoting higher by 2.07 percent at Rs. 1817.85 on the NSE while the Benchmark Nifty was up by 0.33 percent at 10,87865 and the BSE Index was at 35,843.15 up by 0.40 percent.