Unlike street expectation of buyback trend reversal for IT Services companies on introduction of 20% buyback tax by Finance bill 19-20, we expect that the preference for buyback over dividend may continue. Tax exemption to shareholders on buyback gains still holds tax advantage in favor of buybacks. Finance minister also proposed to increase minimum public shareholding (MPS) to 35%. In our view, any stock correction in TCS (BUY, TP Rs 2,390)...