TCS to consider share buyback on Wednesday: What analysts say

NEW DELHI: Ahead of its quarterly earnings on Wednesday, TCS NSE 0.14 % announced a share buyback proposal which surprised many on Dalal Street. This is because it was earlier believed that Tata Sons could pare stake in TCS to buy out Shapoorji Pallonji Group’s 18.37 per cent holding in the promoter entity.

But since a buyback is announced now, analysts such as Abhimanyu Sofat of IIFL believe that the size of such an offer could be significantly higher than what it has been earlier. In 2018, the company went for a Rs 16,000 crore share buyback.