TCI share price dips over 6% after announcement of share buyback at ₹1,200 apiece

TCI share price: Transport Corporation of India Limited (TCI) saw its share price decline by over 6 per cent following the company’s share buyback announcement. On August 24, 2024, TCI informed the stock exchanges that its board of directors had approved a buyback of up to 1,333,333 equity shares at ₹1,200 per share through a tender offer. The buyback plan, aimed at returning value to shareholders, was well-received initially, but the stock still faced downward pressure in the market.