Tech Mahindra Shares Buyback Record Date [Rs 1,956 Crore]

Tech Mahindra Shares Buyback Record Date [Rs 1,956 Crore]. The Tech Mahindra stock rises after board approves Rs 1,956 Crore buyback of shares.

Tech Mahindra Shares Buyback Record Date

We all know about Tech Mahindra Company which represents itself as a connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

They are a part of the USD 21 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology, and vacation ownership.

टेक महिंद्रा कंपनी के बारे में हम सभी जानते हैं जो खुद को एक कनेक्टेड दुनिया के रूप में प्रस्तुत करती है, जो एंटरप्राइज, एसोसिएट्स और सोसाइटी टू राइज़ को सक्षम करने के लिए अभिनव और ग्राहक केंद्रित सूचना प्रौद्योगिकी अनुभव प्रदान करती है। टेक महिंद्रा उच्चतम रैंक वाला गैर-यू.एस. फोर्ब्स ग्लोबल डिजिटल 100 सूची (2018) में कंपनी और फोर्ब्स फैब 50 कंपनियों में एशिया (2018)

वे USD 21 बिलियन Mahindra Group का एक हिस्सा हैं जो 100 से अधिक देशों में 200,000 से अधिक लोगों को रोजगार देते हैं। समूह प्रमुख उद्योगों में काम करता है जो आर्थिक विकास को संचालित करते हैं, ट्रैक्टर, उपयोगिता वाहनों, बाजार, सूचना प्रौद्योगिकी और छुट्टी के स्वामित्व में नेतृत्व की स्थिति का आनंद लेते हैं।

Important Details Regarding Tech Mahindra 2019 Shares

  • Tech Mahindra share price rose in trade today after the IT firm announced a Rs 1,956-crore buyback of its shares at Rs 950 apiece, a 14.59 per cent premium over current trading price.
  •  The Tech Mahindra Share price rose 3.49% to 840.10 levels compared to the previous close of 811.75 on the BSE.
  • Tech Mahindra share opened at 814 level on BSE today. Turnover for Tech Mahindra share rose to Rs 40.45 Crore with 4.89 Lakh shares changing hands on the BSE.
  • टेक महिंद्रा के शेयर की कीमत आज व्यापार में बढ़ गई, जब आईटी फर्म ने अपने शेयरों की 1,956 करोड़ रुपये की खरीद की घोषणा की, जो कि मौजूदा कारोबार मूल्य से 14.59 प्रतिशत अधिक है।
  • BSE पर 811.75 के पिछले बंद की तुलना में टेक महिंद्रा शेयर की कीमत 3.49% बढ़कर 840.10 के स्तर पर पहुंच गई।
  • टेक महिंद्रा का शेयर आज बीएसई में 814 के स्तर पर खुला। बीएसई पर 4.89 लाख शेयरों के साथ टेक महिंद्रा शेयर का टर्नओवर 40.45 करोड़ रुपये तक पहुंच गया।

Buyback Offer Details 2019 For Tech Mahindra Shares

Buyback Record Date: 06 March, 2019
Board Meeting Approval: 21 February, 2019
Public Announcement: Rs. 1956 Crore
Buyback Offer: 2.10%
No. of Shares: 2,05,85,000
Share Face Value: Rs.5
Buyback Price: Rs.950
Buyback Type: Tender Offer

Latest Highlights and Reviews Tech Mahindra Shares 2019

  • “The board met this morning and the buyback was announced. Rewarding investors is always a key goal” – Anand Mahindra, Chairman.
  • We evaluate the cash needs of the business from time to time and intend to return excess cash to shareholders. In terms of the method adopted, we will be using a combination of buybacks and dividends to return capital to reward our shareholders” – Tech Mahindra CFO Manoj Bhat told PTI.
  • Buybacks allows cash-rich IT companies to return excess fund to shareholders. Earlier this year, IT major Infosys announced a buyback offer of Rs 8,260 Crore and Persistent Systems’ board approved Rs 225 Crore buyback programme.
  • Tech Mahindra MD and CEO CP Gurnani thanked the firm’s investors and said that it was time to reward all stakeholders. “Time to reward stakeholders who’ve placed trust in us.. Thank you @tech_mahindra investors.
  • This one is for you,” he said in a tweet. Tech Mahindra shares are trading 2% higher at Rs 829.80 on NSE.  The Public Announcement setting out the process, timelines and other statutory details will be published on February 25, 2019 in accordance with the Buyback Regulations, the firm said in its statement to the exchanges.

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