By Malvika Gurung
Investing.com -- Shares of the IT behemoth Tata Consultancy Services (NS: TCS ) ended Monday’s session 1.29% higher at Rs 4,019.15 apiece, after climbing 2% to Rs 4,043 and recording a new all-time high.
On Jan 12, TCS announced its earnings result for the December-ending quarter, reporting its highest Q3 growth in the past 5 years. It posted a 12.2% rise in net profit at Rs 9,769 crore in Q3, amid healthy revenue growth, rising 4.3% to Rs 48,885 crore on a QoQ basis, and 6.3% YoY.
Over the past three sessions, TCS' stock has gained nearly 5%.
In today’s session, the IT stock exceeded its earlier high of Rs 3,990, recorded Oct 28. Also, on Wednesday, the company announced a share buyback of Rs 18,000 crore, buying back up to 4 crore shares, priced at Rs 4,500 apiece.
This is the fourth and the biggest share buyback by TCS in the past 5 years, and in the past three buybacks, TCS has returned a total of Rs 48,000 crore to its shareholders.
Besides, TCS has declared to pay an interim dividend of Rs 7/share on Feb 7, fixing Jan 20 as the record date for this payment, and the stock will turn ex-date for interim dividend on Jan 19, cites a syndicated news feed.
Moreover, with the ongoing upward movement of the stock, TCS is soon set to become the second listed company to enter the Rs 15 trillion market capitalization mark, second to Reliance Industries (NS: RELI ) with an m-cap of Rs 17.3 trillion. TCS’ current m-cap is Rs 14.87 trillion.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.