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Indian shares rise after TCS, Wipro buyback plans

BENGALURU, Oct 8 (Reuters) - Indian shares rose on Thursday as IT stocks gained after Tata Consultancy Services decided to buy back up to $2.2 billion in shares and smaller-rival Wipro said it would consider stock repurchase.

The NSE Nifty 50 index rose 0.93% to 11,848.20 as of 0348 GMT, while the S&P BSE Sensex was up 0.95% to 40,258.52.

Shares of Tata Consultancy Services rose as much as 4.8% to a record high of 2,877.9 rupees as operating margins for the September quarter rose to 26.2% from 24% a year earlier. The Nifty IT index was up 3.7%. (Reporting by Philip George in Bengaluru; Editing by Arun Koyyur)

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