TCI (TCI): Buyback
Transport Corporation of India (TCI) filed a copy of a newspaper publication with the NSE on October 1, according to the exchange filing. The notice carries a corrigendum, meaning a formal correction, to the public announcement for its buyback of fully paid equity shares. This is not a fresh buyback but an amendment to one already under way: the board met on September 29 to approve it, and the board resolution and the newspaper copy of the original announcement were filed the next day. The corrigendum appears twice in the filing list, as the submission and as the newspaper copy, but it is one event. The pack does not say what it changed.
Strota's own base rate for buyback events as a category, across 42 past cases in many stocks, shows a win rate of 57.1% and a net edge of 0.374% after costs. That describes how events like this have historically played out on average. It is not a prediction for TCI, and it reflects buyback announcements in general rather than a correction to one the market already knew about.
Headlines from Business Standard and Business Today reported a ₹150 crore buyback at Rs 960 a share. Another filing says the promoter group, in letters dated September 29, said it will not participate. The stock trades at a price-to-earnings ratio of 14.81 and a price-to-book of 2.62, with a market value of about ₹6739 crore and a dividend yield of 1.14%. The Nifty fell 0.88% on the day. The pack has no price or volume data for TCI.
The data establishes the sequence of filings and the general base rate for buybacks. It does not establish what the correction contains or how the stock moved on it.
The catalyst
TCI has informed the Exchange about Copy of Newspaper Publication - Submission of Corrigendum to Public Announcement for Buyback of fully paid-equity shares (filing · NSE)
What the data shows after this event
Across Strota's backtest of past filings, Buyback tends to continue — the move went bullish in about 57.1% of next sessions (net 0.374% after drift and cost, n=42). A base rate, not a forecast for this stock.
TCI right now
P/E 14.81. Full TCI analysis →
Sources
- TCI has informed the Exchange about Copy of Newspaper Publication - Submission of Corrigendum to Public Announcement for Buyback of fully paid-equity shares — NSE
- TCI Express promoter group sells 2.84% stake to XPS Cargo — scanx.trade
- TCI Industries Ltd. Lower Circuit Today: Price, Data and Peers — Univest
- Top stocks in focus today: Investors must watch Tata Steel, KSB, Power Mech, TCI shares on Wed, 30 Sept | Triggers — Livemint
- Transport Corporation of India (NSE:TCI) Approves Buyback and China Expansion Plan — Kalkine India
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