TCI (TCI): Buyback
Transport Corporation of India (TCI) has filed the letter of offer for its share buyback through the tender offer route, according to an exchange filing on NSE published on 12 October. In a tender offer, the company invites existing shareholders to sell shares back to it at a fixed price. A headline from Business Today reported that the board approved a Rs 150-crore buyback at Rs 960 apiece, and scanx.trade reported that the offer opens on Oct 15. The corrigendum filings from early October, a corrigendum being a formal correction to the public announcement, belong to this same buyback; they are procedural steps, not separate offers.
Strota's own records give a base rate for this kind of event. Across 42 past buyback announcements, events like this have historically been followed by a gain 57.1% of the time, with an average net edge of 0.374%. That is a modest tilt measured across many different stocks, and it says nothing specific about how TCI itself will trade.
On valuation, the pack shows TCI at a price-to-earnings ratio of 14.1 and a price-to-book ratio of 2.53, on earnings per share of ₹59.95. Its market value is about ₹6493 crore and the dividend yield is 1.18%. A Dalal Street Investment Journal headline reported that the buyback price sits at a 14 per cent premium while the shares hover near a 52-week low. The broader market was firm, with the Nifty up 1.6% on the day.
What the data establishes is narrow: a single buyback is moving through its filing stages, and buybacks as a group have carried a small historical edge. The pack holds no share-price reaction for TCI on Tuesday, so it does not establish how the stock responded to the letter of offer, nor how many shareholders will take part.
The catalyst
Transport Corporation of India Limited has informed the Exchange about Letter of Offer for buyback of fully paid-up equity shares through tender offer route (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 14.1. Full TCI analysis →
Sources
- Transport Corporation of India Limited has informed the Exchange about Letter of Offer for buyback of fully paid-up equity shares through tender offer route — NSE
- TCI sets Rs 150 crore buyback at 14 per cent premium as shares hover near 52-week low — Dalal Street Investment Journal
- TCI buyback offer opens Oct 15; shareholders can tender at ₹960 — scanx.trade
- TCI Express vs Nifty 50: 1Y Return -31.84% vs -10.93% — Univest
- TCI Express Ltd Downgraded to Strong Sell Amid Deteriorating Technicals and Financial Trends — MarketsMojo
Keep digging
- TCI — full smart-money page: F&O positioning, deals, insider filings and option chain in one place.
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