The country’s top software company, Tata Consultancy Services Ltd (TCS), on Wednesday reported a 8.7 per cent jump in its net profit at Rs 11,342 crore in the quarter ended September, compared to Rs 10,431 crore in the year-ago period. The board of directors approved a proposal to buyback up to 4.09 crore equity shares of the company for an aggregate amount not exceeding Rs 17,000 crore and also announced a dividend of Rs 9 per equity share.
The buyback is approved at a price of Rs 4,150 per equity share, a 15 per cent premium over Wednesday’s closing price.
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