India’s biggest IT services company TCS has announced 18 August, 2018, as the record date for buyback of shares. TCS shareholders will be able to participate in the buyback, if they holds shares in their demat accounts as on the record date. This announcement was made on Saturday. TCS shares closed on a flat note today, falling 0.07% on the BSE to Rs 1,976. In comparison, the Sensex ended 0.36% higher today. A buyback is a mechanism through which a company repurchases a specific amount of its outstanding shares. Buybacks help to improve the earnings per share and return on equity.