Share of IT main Infosys on Monday hit a 52-week high of 1,477.55 on the NSE on account of buyback information. The firm has introduced that it’ll think about a proposal for purchasing again totally paid-up fairness shares at its board assembly to be held on April 13 and 14.
“The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,” the corporate assertion mentioned in an announcement.
The board assembly will approve and tackle record the consolidated monetary results for the fourth quarter ended (*52*) 31, 2021.
This could be the third buyback by Infosys within the final 5 years.
The final time when Infosys purchased again shares was in (*52*) 2019. The firm purchased 2.36 % of the paid-up capital (103.25 million shares) value Rs 8,260 crore at Rs 800 per share via the open market route.
Prior to that, Infosys made a maiden buyback of 11.3 crore fairness shares in December 2017 for Rs 13,000 crore at Rs 1,150 per share.
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