NEW DELHI: India 's largest software services firm TCS will articulate in more "explicit" terms its capital allocation policy in the next few months for its shareholders.Marketmen have been pushing for bringing in a more structured capital allocation strategy for Tata Consultancy Services , a crown jewel in the USD 103-billion Tata Group "There has been a lot of talk about this. We will be articulating our policy (on capital allocation) in more explicit terms...," TCS' newly appointed CEO Rajesh Gopinathan told PTI."We will articulate that in next few months partially, we should articulate some more formal policy in the next quarter or so," he said.The company has maintained a "consistent track record of very systematic and generous distribution " of capital in the past, he added.Tata Sons Chairman N Chandrasekaran had last week said TCS had received suggestions from investors over the need for certainty on dividend policy along with share buyback to distribute large amount of cash to its shareholders.Following this, TCS announced a Rs 16,000-crore buyback earlier this week, which is the largest so far in the Indian corporate history.Mumbai-headquartered TCS has a cash pile of Rs 43,169 crore, which is nearly 10 per cent of the company's market capitalisation.Gopinathan said the company has over the past many years announced normal dividends for 1-2 years and then a special dividend every 2nd or 3rd year."The last time we did, it was June 2015 and so that is 2 years from now, that we are doing it (capital return)...Rather than policy, track record and history is a far superior form of confidence than a stated policy for future. When you look at our track record, we have a consistent track record of very systematic and generous distribution," he said.Gopinathan said buyback as an instrument for this is fairly new in India."SEBI had clarified a lot on the regulatory elements of it in 2015 and subsequent to that, we have been actively monitoring experience of other corporates who have tested this new instrument and we have gained confidence in it. We have decided to introduce this as another instrument in our overall capital return," he added.Earlier this month, Cognizant announced USD 3.4 billion share buy back, bowing to pressure from activist investor Elliott Management Corp.Share buybacks typically improve earnings per share and return surplus cash to shareholders while also supporting share price during periods of sluggish market condition. Infosys too is being pressed with a demand for share buyback as it is sitting on a cash pile of Rs 35,697 crore or USD 5.25 billion (as on December 31, 2016).