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The board of Tata Consultancy Services will meet on Friday to consider a proposal for buyback of its shares. Market participants expect the buyback to be worth at least ₹10,000 crore. It is expected the buyback price would not be at a huge premium. TCS did not disclose any details, including the number of shares to be bought back and the price. Last year, the company had launched a ₹16,000-crore buyback, and followed it up with a 1:1 bonus issue in April this year.
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