The shares of Tata Group company which is a market leader in supply chain services gained 1 percent after the company planned for buyback of shares..
At 11:30 a.m the shares of Tata Consultancy Services were trading at Rs. 3,665 up 1 percent from its previous day close price and the market capitalization of the company is 13,40,310 Cr.
As per the company’s filing, Tata Consultancy Services will be holding a meeting on October 11, 2023 with the board of directors of the company, to consider the proposal for the buyback of equity shares of the company.
The company’s revenue increased by 17.58 percent from 1,91,754 Cr in FY22 to 2,25,458 Cr in FY23, accompanied by increasing profits of 38,449 Cr to 42,303 Cr.
The company reported a return on equity (ROE) of 47.26 percent and return on capital employed (ROCE) 64.44 percent, this indicates that the company is making great returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 72.30 percent stake, the Domestic Institutional Investors hold 9.86 percent and the Foreign Institutional Investors (FII) hold 12.46 percent.
Tata Consultancy Services is an IT services, consulting and business solutions organisation, it offers a wide range of consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.
Written by: Bharath K.S
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