Tata Investment said the company aims to remain invested in leaders in sectors, which they believe have potential to remain value accretive over the medium and long term.
The company had posted a consolidated profit after tax of Rs 27.81 crore in the corresponding quarter of the previous financial year
The stock surged 8% to Rs 890 on BSE in early morning trade after it's board approved the share buyback at Rs 1,000 per equity share through tender offer.
The primary objective of a share buyback programme is to arrest the fall in the value of a stock by reducing the supply of the stock.