infosys: Infosys shares surge 4% ahead of board meeting to discuss buyback plan

Shares of Infosys surged 3.65% to an intraday high of Rs 1,485 on the BSE on Tuesday, September 9, after the IT major announced it will consider a proposal to buy back its equity shares at a board meeting scheduled for September 11.

The move comes at a time when the company’s stock has seen significant underperformance, falling nearly 25% over the past year and declining 24% on a year-to-date basis.

Infosys’ share price weakness mirrors the broader downturn in the Indian IT sector, which has struggled under the weight of global economic uncertainty…