Infosys to announce billion-dollar share buyback plan today. What to expect and will the stock rally?
Infosys, one of India’s leading information technology companies, is set to announce a Rs 10,000-15,000 crore share buyback today, amounting to about 3% of its outstanding equity. This will be the company’s fifth buyback since listing, and all eyes are glued to the stock price performance post the proposal.
Past trends show mixed results. Infosys’ first buyback in 2017, worth Rs 13,000 crore, saw the stock fall 7% in the first month but rebound to deliver 13% gains over six months, according to ET Intelligence Group data.
