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Two important announcements after market hours on Tuesday, regarding share buyback and expansion of a mega deal, saw the Tata Consultancy Services (TCS) stock trading near its all-time high, before closing at Rs 1,824 (up 2.4 per cent) on Wednesday. The optimism is not without reason.
For one, TCS’ board will consider a buyback proposal on Friday which, if approved, should improve earnings, creating some headroom for the stock. Though the buyback details are awaited, analysts expect the pricing premium (buyback over current price) to be lower compared to last year’s offer.
“The buyback quantum will be similar
For one, TCS’ board will consider a buyback proposal on Friday which, if approved, should improve earnings, creating some headroom for the stock. Though the buyback details are awaited, analysts expect the pricing premium (buyback over current price) to be lower compared to last year’s offer.
“The buyback quantum will be similar
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