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TCS: Deep Inside its Buyback is a Tax-Efficient Dividend

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You have to love buybacks. A company buys back its own shares, and you're thinking: Wow, they also like their share price! You are being naive, brother. Let's dive into the latest fancy: TCS Buyback.

Note: Buybacks in Indian listed companies are only because they want to replace a dividend they would have otherwise given. Read: Why are so many companies doing buybacks? (Premium)

On 7th October 2020, the TCS board has approved a buy . . .

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