Tata Consultancy Services (TCS), India’s largest share buyback program for IT services companies up to 16. 000 GBP at a price of 3. £ 000 per share is open. The buyback offer ends on 1. January. Last month, TCS shareholders approved a proposal to buy back up to 5. 3 crore shares in the company with a par value of Re 1 to 3 each. £ 000 per share. Analysts say whether investors make offers or not depends on their investment horizon.
“Whether an investor should make an offer or not depends on the investment horizon. We would recommend investors with a long-term investment horizon of more than a year to hold the stock as demand for IT services can be expected to grow strongly as the adoption of digital technologies increases, “said Jyoti Roy – DVP equity strategist at Angel Broking.
“This was based on Accenture Q1FY2021 numbers, which were above street estimates due to increased demand for outsourcing which is positive for Indian IT companies. Publish the Accenture numbers we expect for Indian IT companies, “added Roy.
Accenture first quarter revenue growth of 2% year over year at constant exchange rates was well above the led range of -3% to 0%. . In addition, Accenture’s new bookings for the three months through November increased 25% year over year to $ 12. 9 billion.
Analysts say that large Indian IT companies tend to have a lag in reflecting Accenture’s performance. The company follows a fiscal year from September to August.
For TCS stock investors with a short-term horizon, Roy recommends accepting the offer.
She says: “Investors with a short-term investment horizon in TCS shares can offer their share in the buyback, as the investor who offers his shares in the buyback would not be subject to tax. “
The price of the TCS share reached its all-time high of 2 on Friday with the start of the buyback program. Reached £ 898. The last closing price was £ 2. 852.
Click here to read that Mint ePaperMint is now in the Telegram. Join the Mint channel on your Telegram and stay up to date with the latest business news.
You have now subscribed to our newsletter. If you cannot find an email from our site, please check the spam folder.
Share buyback, Tata Consultancy Services, share, Crore
News – PH – TCS share buyback offer is open. Should you offer stocks?
. . Associated title :
– The TCS share buyback offer is open. Should you offer stocks?
– >> tcs: TCS reaches a 52-week high share buyback