Tata Consultancy Services Limited

Tata Consultancy Services Limited (TCS) is engaged in providing information technology (IT) services, digital and business solutions. The Company's segments include banking, finance and insurance services (BFSI); manufacturing; retail and consumer packaged goods (CPG); telecom, media and entertainment, and others, such as energy, resources and utilities, hi-tech, life science and healthcare, s-Governance, travel, transportation and hospitality, and other products. Its services portfolio consists of IT and assurance services, business intelligence and performance management, business process services, cloud services, connected marketing solutions, consulting, engineering and industrial services, enterprise solutions, IT infrastructure services, mobility products and services and platform solutions. Its software offerings include Digital Software and Solutions, TCS BaNCS and TCS MasterCraft, among others. The financials of the company are good and growing, RoNW is 35% and at CMP its looks fully priced. Price difference is around 6% and acceptance ration as per current share holding for retail will be around 10%, but it may be possible that this ratio may go down as more people will buy for buyback and so we may expect the final acceptance ratio may be around 20% and profit may be 2%. So we give NEUTRAL rating to this buyback, but who are holding may tender their shares and get profit by price difference.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal