⁍ India’s top software exporter Tata Consultancy Services said on Wednesday it would buy back shares.


⁍ The buyback comes at a time when TCS parent Tata Sons is engaged in a fight with one of its oldest shareholders.


– India’s Tata Consultancy Services says it will buy back $2 million worth of shares as part of a plan to shore up its balance sheet, reports Reuters. The move comes as the company’s parent company, Tata Sons, fights with one of its oldest shareholders, the Shapoorji Pallonji Group, over whether to separate from the Tata Group. The Times of India reports that the company’s board has approved a plan to buy back shares from current and past shareholders.



Source: https://www.reuters.com/article/tcs-results/tcs-announces-up-to-22-billion-buyback-second-quarter-profit-falls-idUSKBN26S247