Infosys shares rise 2% after Rs 18,000 crore buyback announcement

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Shares of Infosys jumped 2.3% to a day’s high of Rs 1,544.65 on the BSE in early trade on Friday, a day after the company announced its largest-ever share buyback worth Rs 18,000 crore. The buyback, to be conducted through the tender offer route, is priced at Rs 1,800 per share, a 19% premium over Thursday’s closing price of Rs 1,512.

The Bengaluru-headquartered IT major plans to repurchase around 10 crore shares, amounting to 2.41% of its total equity. This marks the largest buyback undertaken by Infosys since its listing, signalling a…



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Infosys shares rise 2% after Rs 18,000 crore buyback announcement



Shares of Infosys jumped 2.3% to a day’s high of Rs 1,544.65 on the BSE in early trade on Friday, a day after the company announced its largest-ever share buyback worth Rs 18,000 crore. The buyback, to be conducted through the tender offer route, is priced at Rs 1,800 per share, a 19% premium over Thursday’s closing price of Rs 1,512.

The Bengaluru-headquartered IT major plans to repurchase around 10 crore shares, amounting to 2.41% of its total equity. This marks the largest buyback undertaken by Infosys since its listing, signalling a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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