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ā¢ Tata Consultancy Services (TCS) has approved a proposal to buyback up to 4,09,63,855 equity shares for Rs 17,000 crore, representing 1.12% of the total paid-up equity share capital.
ā¢ The record date for the buyback has been fixed as November 25, and analysts predict double-digit returns in the short-term.
ā¢ This will be the fifth time TCS has conducted a share buyback program, with the previous four also done through the tender offer route.