TCS emerged as the top performer in the 30-share Sensex pack, after the company said its board has approved a share buyback plan of up to Rs 16,000 crore.
The buyback price has been set at Rs 2,850 per share. The stock ended the day at Rs 2506.50, up 4.08 percent.
Telecom shares were in demand after reports said Vodafone India and Aditya Birla Group firm Idea Cellular are likely to finalise their merger within a month, creating India’s largest telecom firm.
The BSE Sensex, after opening a tad higher, quickly slipped into negative terrain to hit a low of 28,419.27 on profit-booking.