Purchases of shares ongoing shares by the Consultancy Services Tata have seen the record of participation from investors surpassing a previous record made by 2020.

The company repurchases have seen participation from 223,875 investors at 15:35 on March 11, which only the third day of the return window. Previously, the highest participation in repurchasing by Major Information Technology was 195,470 investors in 2020.

The return window will be closed on March 23. TCS has offered to buy back up to 40 million shares of the company with a price of 4,500 floors per share.

Participation is likely to be led by retail investors and mutual funds. So far, retail investors have brought 8.5 million shares from 15.2 million shares offered to companies by investors at the end of the third day of the returning window, according to data in BSE and National Stock Exchange.

Mutual funds are far seconds when they kick around 5.1 million giant IT shares in three days so far.

More than 1.5 million individual investors have around 3.6 percent of shares in IT services, while 40 mutual funds have almost 3.3 percent of the shares, in accordance with the company’s shareholding data.

Interestingly, the participation of foreign institutional investors has been subdued because they have been tendered to only 1.2 million shares of the company so far. The low participation of foreign investors has so far, contrary to the sale of IT shares from cohorts in the secondary market in recent months.

Foreign portfolio investors have a stock of nets sold more than Rs 27,000 Crore in January and February which are driven by major sales in global technology stocks because the prospect of higher interest rates in the US makes this expensive assessment of this sector make expensive assessments.

That said, TCS shares have fallen only 3.7 percent in 2022 so far against more than 4 percent decrease in the Nifty 50 index.