Infosys share price jumps more than 2% after plan for biggest ever buyback

Infosys Ltd.’s share price surged on plans for its biggest buyback since listing in 1993. On Friday, the stock of India’s second largest IT services firm gained as much as 2.32% at the open even as the benchmark S&P BSE Sensex was 200 points higher.

The board of directors of the IT bellwether has approved a proposal to repurchase 10 crore fully paid-up equity shares of face value ₹5 each at ₹1,800 apiece, according to an exchange filing on Thursday.