The board of directors of Tata Consultancy Services (TCS) has approved a proposal to buyback up to 7,61,90,476 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore being 1.99% of the total paid up equity share capital, at Rs 2,100 per equity share.

At 14:56 hrs Tata Consultancy Services was quoting at Rs 1,827.90, up Rs 35.65, or 1.99 percent on the BSE.

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