Indian IT firms are likely to favor share buybacks over dividends following recent tax reforms. Market expert Sushovan Nayak believes the new rules make buybacks more tax-efficient for both companies and many shareholders. This shift is expected to encourage cash-rich IT giants like Wipro, LTIM, and TCS to continue returning capital to investors through buybacks in the coming period.
Mcap of 8 of top-10 firms erodes by Rs 1.55L cr
Recently, the market witnessed a downturn, with eight of the leading firms in India suffering major valuation losses. The declines of HDFC Bank and Bajaj