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India's TCS announces up to $2.2 billion buybacks, second quarter profit falls

India's top software exporter Tata Consultancy Services TCS.NS said on Wednesday it would buy back shares worth up to 160 billion rupees ($2.18 billion), and reported a 7.1% fall in quarterly profit. The buyback comes at a time when TCS parent Tata Sons is engaged in a fight with one of its oldest shareholders, the Shapoorji Pallonji Group, which recently said “a separation from the Tata Group is necessary”.

News source ~ Reuters