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BUZZ-India's TCS hits over five-month high on shares buyback plan
February 16, 2017 / 3:54 AM / in 8 months

BUZZ-India's TCS hits over five-month high on shares buyback plan

** Shares of Tata Consultancy Services Ltd rise as much as 2.7 pct, highest since Sept 7, 2016

** Nifty IT index up 1.33 pct

** Company to consider shares buyback on Feb 20

** TCS can buy back of maximum 209 bln rupees ($3.13 billion) or 25 pct of net worth, according to IDBI Capital analyst

** We believe it would be reasonable for TCS to announce share buyback of US$2 bln or 136 bln rupees, which would be 2.9 pct of the MCap - IDBI Capital analyst ($1 = 66.8500 Indian rupees)

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