IT
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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