IT-giant
Tata Consultancy Services (TCS) on Friday said that the company has completed 100% shares acquisition of Postbank Systems AG from Deutsche Bank AG through its subsidiary Tata Consultancy Services Netherlands B.V.
PBS is the full-range captive IT service provider that provides project management, application management and infrastructure support services to Postbank and other subsidiaries of Deutsche Bank. PBS and it's around 1,500 employees has become part of TCS, deepening the relationship between the two organizations.
TCS today was also in focus for its Rs16,000cr buyback plan which closed today. TCS launched buyback of up to 5,33,33,333 fully paid-up equity shares having a face value of Re1 each at a floor price of Rs3,000 per equity share on December 18, 2020, The closing date of the buyback was scheduled on January 01, 2021. TCS will settle bids in the buyback plan on January 12, 2021, on stock exchanges.
On Thursday, TCS had intimated exchanges about its board meeting scheduled on January 8, 2021 - to approve and take on record the audited financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and nine months ending December 31, 2020.
Also, on January 08, the company's board will consider the Third Interim Dividend to the equity shareholders for FY21.
On Sensex, TCS finished at Rs2928.20 per piece up Rs58 or 2.02%.