Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
April 24, Monday 2017 8:56 AM       

       HEADLINES: Woman, three daughters mowed down by train                                              Vengara bypolls will decide who is ‘right’, says Joy Mathew                                              Money power and Power Mani behind Munnar encroachment, says Kummanam                                              KRK says sorry for comparing Mohanlal to ‘Chota Bheem’                                              M M Mani is shame for state, says Sudheeran                                              TN CM meets protesting farmers in Delhi                                              ISRO to increase launch frequency to 12 per year                                              Mega defence deals likely during PM's trip to Israel                                              Modi to address all BJP CMs today                                              TN farmers suspend protest after CM's assurance                                              Pakistani man eats leaves for 25 years, never falls ill: Report                                              PPP to launch movement for Sharif's resignation                                              US accuses TCS, Infosys of violating H-1B visa norms                                              It is sad that India is no. 3 in doping: Mary Kom                                              Dhoni seals 6-wkt victory for Pune against Hyderabad                                              Bowlers deliver win for Mumbai                                              No required rate too high if you keep calm: Dhoni                                              Bopanna-Cuevas pair wins Monte Carlo Masters                                              Kaumudi Facebook
       BUSINESS Next Article: Sensex near five-month highs, Nifty reclaims 8,800-mark  
       TCS to look at buyback on Feb 20
 
         Posted on :19:38:05 Feb 17, 2017
   
A A
       Last edited on:19:38:05 Feb 17, 2017
         Tags: TCS to look at buyback on Feb 20
 
MUMBAI: India’s largest software services firm Tata Consultancy Services (TCS) on Thursday announced that it will consider a buyback on February 20. 
 
The move comes at a time when investors have been calling upon IT companies sitting on huge cash piles to return excess cash to shareholders through a buyback or through a bonus issue. US-headquartered Cognizant Technology had announced earlier this month that it will returning $3.4 billion over the next two years to its investors through buybacks and dividends.
 
“The board of directors will consider a proposal for buyback of equity shares of the company at its meeting to be held on February 20, 2017,” TCS said in a communique to the exchanges. The company had net cash of Rs 43,100 crore at the end of December 31, 2016. Interestingly, this could also be one of the biggest announcements by outgoing TCS CEO N Chandrasekaran, as he is set to take charge as the Chairman of Tata Sons on February 21. The current CFO Rajesh Gopinathan will be assuming the role of CEO post Chandrasekaran's exit.
 
IDBI Capital’s Urmil Shah believes that TCS could announce a buyback of around $2 billion, “TCS can do buyback of maximum of Rs 20,900 crore or 25% of networth. We believe that it would be reasonable for TCS to announce share buyback of $2 billion or Rs 13,600 crore, which would be 2.9% of the company’s market capitalisation,” Shah said.
 
V Balakrishnan, the former chief financial officer of Bengaluru-based IT major Infosys has also been demanding a share buyback by the company in order to reward shareholders. 
DH News Service
Will take decision on buyback at an appropriate time: Infosys
 
The country’s second largest software services company Infosys on Thursday said it “periodically” reviews the capital allocation policy and the management will take a decision on share buyback at an “appropriate time”.
 
The statement comes at a time when Indian IT companies are under increasing pressure from investors to look at utilising large amount of cash on their books either through share buyback or generous dividend.
 
“Infosys has a clear, defined capital allocation policy which is periodically reviewed by the Board. We have increased the dividend payout twice in the past three years as a result of this process,” an Infosys spokesperson said in an emailed statement.
“The Board and the management will continue to review the policy and take a decision at an appropriate time,” she added.
A A
       BUSINESS
Next Article: Sensex near five-month highs, Nifty reclaims 8,800-mark
 
 
BUSINESS HEADLINES
Thailand expects 12 lakh tourists from India in 2017  
GST great illustration of cooperative federalism: Modi  
Niti Aayog lists promoting digi-payments as achievement  
Hero Cycles eyes setting up Rs 400 cr project  
Impact of demonetisation abated: IMF  
Mistry appeals against NCLT rejecting waiver plea in Tata case  
Air India lowers age limit for elderly travel concession  
SEBI court quashes non-bailable warrant against Sahara chief  
India needs to accelerate investment in children, education:WB  
Sensex extends gains, up 86 pts on bargain hunting  
Jaitley may take up H-1B visa issue with US authorities  
'India moving forward to become major destination for FDI'  
Sensex surrenders early gains, falls 95 pts  
Apple, Coke, Airtel among cos pulled up for 143 misleading ads  
Inflation cools to 5.7%, food prices heat up  
Nifty regains 9,200-level in early trade  
SC orders auction of Sahara's Amby Valley  
Railways to export locos, train sets worth Rs. 680 cr to Lanka  
Sensex edges lower by 88 pts on global weakness  
Netizens uninstall Snapdeal app instead of Snapchat  
Petrol price hiked by Rs 1.39 per litre, diesel up by Rs 1.04  
CBEC sanctions Rs 1 cr to each zone for GST outreach  
Markets feel Infosys heat, Sensex dives 182 pts  
Infosys plans Rs 13,000 cr pay-out via buyback, dividend  
Rupee sinks 17 paise to 64.67 on global woes  
 
Do you think Chief Minister Pinarayi Vijayan triggered holy cross row?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy