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TCS gains 2% to hit 10-week high; Stock nears all-time high

Shares of Tata Consultancy Services (TCS) hit an over 10-week high of Rs 3,835.50, up 2% on the BSE in Tuesday’s intra-day exchange. The stock cited higher for the third consecutive day, acquiring 4% during the period. It was exchanging at its most elevated level since January 24, 2022 and is only 5% away from a record elevated level of Rs 4,045.50 touched on January 18, 2022.

On March 31, 2022, the information technology (IT) bellwether declared that the directorate of the organization would meet on Monday, April 11, 2022 to consider financial outcomes for the quarter and entire year finishing March 31, 2022.

The organization on Monday, April 4, informed that it has marked a material long term agreement with an enormous American organization growing its well established association to speed up their cloud transformation journey and change their innovation landscape into a cutting edge hybrid cloud stack for more prominent dexterity, adaptability, and worked on functional strength.

In the meantime, last month, TCS had finished up its Rs 18,000-crore share repurchase program, its fourth since 2017. The organization had repurchased 40 million equity shares through the buyback offer. Post the buyback, the promoters and promoter group organization’s stake in TCS expanded to 72.30 percent from 72.19 percent.

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