TCS buyback offer is attractive for retail investors

At Rs 2,850 a share, buyback is 13.7% above Monday's close; scrip may not see such a price too soon

The fortunes of information technology stocks haven't been all that good for some time. Some have taken a serious hit and performed way below the benchmark index -- the Bombay Stock Exchange Sensitive Index or Sensex.

For example: The Sensex's one-year returns stands at 20.9 per cent whereas among the top information technology stocks, only TCS and Tech Mahindra have delivered positive returns of eight per cent and 15 per cent in the past year. Infosys, HCL Technologies and Wipro are all down. Even over a three-year period, the Sensex has returned 39.6 per cent. In comparison, only TCS and HCL