TCS announces salary hike for it’s employees , Share Buyback

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TCS announces salary hikeIT giant TCS ahead of it’s Strong Quarter 2 Results, announces salary hike for it’s employees which will be effective from October 1 . TCS also Announces Share Buyback at the price of Rs 3000  .

TCS also Announces interim Dividend of Rs 12 for it’s shareholders . Record Date of Interim Dividend is 15/10/2020 . It means that till 15 October 2020 , if you have TCS Share in your Demat Account Then you are eligible for Dividend . Payout Date for dividend is 05/11/2020 . This Dividend will be directly paid into the bank account of shareholders .

Total Amount of Share Buyback is Rs 16,000 which is 1.55% of Company’s Current M-cap of . TCS will Buyback total 5,33,333,33 Equity Shares at the price of Rs 3,000 . This buyback price is at a premium of 9.01% from it’s last traded price of Wednesday . Last Traded Price of TCS on Wednesday is Rs 2,752.80 .

TCS said it’s  revenue for Quarter 2 is 5.424 Billion Dollar and fell down by 1.7% when compared with Same Quarter of Previous Year . When Compared with Quarter 1 of FY 2020-21 , Revenue Growth is 7.2% .

Net Income of Company is 1.14 Billion Dollar which increases by 23.4% and 0.2% on QoQ and on YoY Basis .

TCS also said that it has strong cash conversions  . Net cash from it’s Operations is 1.44 Billion dollar which is 125.9% of it’s Net Income .

In Quarter 2 , TCS saw a Revenue  Growth which is  led by BFSI (+6.2% QoQ) and Retail (+8.8% QoQ) .

After the Announcement of TCS Q2 Result it’s MD and CEO Rajesh Gopinathan said – “Driving accelerated business value realization of our customers’ digital investments has resulted in broad-based revenue growth. The strong order book, a very robust deal pipeline, and continued market share gains give us confidence for the future.” .

In Quarter 2 , TCS Closes Strong deals worth Rs 8.6 Billion Dollar  On QoQ Basis

Talking about the Hiring , Milind Lakkad , Global Head – Human Resources Told that Company hired 7,200 freshers from India , 1000 in US and around 100 in Europe . In thsi Quarter TCS reported Low Attrition Rate of 8.9% .

Total Headcount in Quarter 2 Stood at 453,540 Employees . Net Addition was 9,864 . Total 36.4% women are there in Total Workforce of TCS .

 

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