Single factor analysis on Mergers and Acquisitions done by Tata Group Case of TCS-CMC Using Market adjusted model for Event Study Analysis

Abstract

This study presents the effect of Mergers and Acquisition on stock prices of Tata Consultancy Services. We examine shareholder wealth gains of Tata Consultancy Services that acquired CMC. This study analyzed shareholders wealth of Tata Consultancy Services as a result of global merger and for this we using the event negative and insignificant cumulative abnormal returns of nearly negative nine percent.