/ TCS Hits 9-Month High, Rallies 15% In May ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Thursday, 25 May 2017

Tata Consultancy Services, an Indian multinational IT services company on Thursday’s trading session rallied more than 2% to Rs 262 per share to hit its 9-month high, continuing its Wednesday’s run on the BSE.

So far in the month of May, TCS has outperformed the benchmarks indices clocking gains of 15% as compared to S&P BSE Sensex’s 1.9% gains on a monthly basis.

TCS commenced its Rs 16,000-crore mega buyback offer from Thursday, May 18. The buyback programme, which received shareholders' approval last month, will close on May 31.

Share buybacks typically improve earnings per share (EPS) and return surplus cash to shareholders while also supporting share price during periods of sluggish market condition.

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