TCS share buyback 2023 expected along with Q1FY24 results?

One pleasant surprise for TCS investors. Tata Consultancy Services , No. 1 IT company in India, is expected to initiate the Q1FY24 earnings season on July 12.

As per brokerage firm Jefferies, the Tata Group’s subsidiary might unveil a share buyback program along with its earnings announcement.

“…approve and take on record the audited standalone financial results of the company for the quarter ending June 30, 2023,” TCS said in an exchange filing.

The upcoming weeks will witness the commencement of the first quarter earnings presentations by IT companies, including TCS and HCL Tech, both scheduled to declare their results on July 12.

Tata Consultancy Services (TCS) made headlines last year when it unveiled a substantial buyback program valued at Rs 18,000 crore, equivalent to approximately 1.08 percent of its equity share capital.

In addition to the buyback news, TCS has now established the record date for determining shareholder eligibility for the upcoming dividend payment, if announced. The record date for TCS dividend 2023 has been confirmed as July 20, as reported by the National Stock Exchange (NSE). This announcement adds further anticipation to the company’s future financial developments.

TCS share buyback 2023 expected since the company has impressive cashflow. The company has recently paid handsome dividends for the year 2023-23 and now with strong cash flow of the current year, the company once again is expected to give lucrative buyback offer.

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