Share Market Updates: There was a break on the rise of five days, the market closed with a slight decline on the last day of the week

Share Market Updates: Today there was a break on the fast of five days. The Sensex closed with a slight decline in the last trading session of the week.

Today 13 stocks in the top-30 of the Sensex closed with a gain.

stock market on the last day of the weekShare Market Updates) closed with a decline. Today the Sensex fell by just 12 points (Sensex today) at the level of 61223 and Nifty closed at the level of 18255 with a fall of 2 points (Nifty today). Today, 13 stocks in the top-30 of the Sensex closed with a rise and 17 shares fell. Shares of Tata Consultancy Services, Infosys, LT, Tech Mahindra, HDFC Bank were top gainers, while Asian Paints, Axis Bank, Hindustan Unilever and Mahindra & Mahindra were top losers today.

Today the market cap of BSE listed companies closed at Rs 278.49 lakh crore. After rising in five consecutive trading sessions, the market closed with a slight decline today. On a weekly basis, the Sensex rose 2.47 percent this week. This is the third consecutive week when the Sensex has registered a rise.

Tata Sons and TICL keen to join share buybacks

The promoters of Tata Consultancy Services (TCS) are Tata Sons and Tata Investment Corporation Ltd. (TICL) plans to participate in the company’s share buyback offer worth Rs 18,000 crore. Both the promoters are willing to sell shares worth around Rs 12,993 crore under the buyback offer. TCS’s board on Wednesday approved a share buyback proposal worth Rs 18,000 crore. A total of four crore shares will be repurchased at Rs 4,500 per share. According to the notice issued by the company, Tata Sons and TICL have expressed their intention to participate in the buyback offer.

267 crore shares of Tata Sons

Tata Sons holds 266.91 crore shares of the company and is willing to place 2.88 crore shares under this offer. At the same time, TICL has 10,23,685 shares of the company and will offer 11,055 shares. Both the entities will place shares worth Rs 12,993.2 crore under buyback offer at Rs 4,500 per share.

E-voting starts from January 14

TCS is seeking shareholders’ approval through a special resolution for buyback of the company’s shares. According to the company, the e-voting for this will start from January 14 and will end on February 12, 2022. The results of the postal ballots will be announced on February 15, 2022. Earlier, TCS had repurchased shares worth Rs 16,000 crore on December 18, 2020. During that time the group’s holding company Tata Sons had kept 9,997.5 crore shares under it.

Also read There was a huge jump of 39 percent in exports in December, trade deficit also increased due to increase in imports

Also read Corona’s third wave will affect GDP growth, RBI may postpone increase in reverse repo rate: Report

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