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ā¢ Sharekhan has recommended a buy rating on Tata Consultancy Services with a target price of Rs 4200.
ā¢ TCS announced a buyback of Rs 17,000 crore at a premium price of Rs 4,150 per share through the tender route.
ā¢ Given the potential acceptance ratio and possible upside for retail/small investors, it is advisable to tender shares in buyback and reinvest in the same number of accepted shares at a lower market price.