Transport Corporation approves Rs 1.6 Bn share buyback

26 Aug 2024 CW Team

Transport Corporation of India has announced its first-ever buyback of equity shares, valued at up to Rs 1.6 billion. In a meeting held on August 24, 2024, the company'?s board approved the buyback of up to 13,33,333 equity shares at Rs 1,200 per share on a proportionate basis through the tender offer route, according to an exchange filing.

The buyback price of Rs 1,200 per share represents a 4.8% premium over Friday's closing price of Rs 1,144.4 per share. The record date for the share buyback has been set for September 4, 2024. A share buyback is a process where a company repurchases its own shares from shareholders, often considered a tax-efficient and favorable method of returning cash to investors.

Over the past year, TCI shares have increased by 44%, while in the current calendar year, the stock has risen by 37%. In the last three years and five months, the shares have gained 193% and 312%, respectively, according to BSE analytics.

Technically, the stock is performing strongly on the charts, trading above all its key short, medium, and long-term exponential moving averages. Its RSI stands at 75.5, indicating overbought territory, according to Trendlyne data. Out of 10 analysts on Trendlyne, six recommend a "strong buy" on the stock, three have a "buy" rating, and one has a "hold" view.

Transport Corporation of India, headquartered in Gurugram, is an Indian logistics and supply chain management company. Incorporated in 1958, it has grown from a single-truck operation to a leading provider in the logistics sector, offering seamless multi-modal logistics solutions through its extensive infrastructure.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..