The Tata Consultancy Services (TCS) board is meeting on Friday to consider a proposal to buy back shares, the company said in a stock exchange filing. Sources told TOI it might be to the extent of Rs 10,000 crore. TCS has said previously that it will pay out 100% of its free cash flows to shareholders. In the 2017-18 financial year, TCS made a 118 %.
An email sent to TCS did not elicit a response till the time of going to press. Last year, TCS announced a Rs 16,000-crore mega share buyback at Rs 2,850 apiece that closed on May 31.