TCS share price hits 52-week high on opening of buyback offer
Tata Consultancy Services (TCS) share price added nearly 2 percent in the early trade on December 18 as the company's Rs 16,000 crore share buyback offer opened for investors today.
TCS has decided to buy back up to 5,33,33,333 equity shares and the floor price for this offer has been fixed at Rs 3,000 per share.
The offer, as per the schedule, will close on January 1, 2021.
This is the third share buyback offer from the company after August 2018 and May 2017.
Experts advised investors to tender their shares in the buyback offer if they want to hold for less than one year period given the good price offered by the company.
At 09:31 hrs, Tata Consultancy Services was quoting at Rs 2,892, up 1.90 percent on the BSE.