Infosys' market value touched an all-time high of Rs 6.12 lakh crore on the BSE.
Shares of the country's second largest software services company - Infosys - rose as much as 2.72 per cent to hit an all-time high of Rs 1,480 after the company informed exchanges on Sunday that its board will consider a proposal to buyback shares at its upcoming board meet on Wednesday, April 14, 2021. With today's surge Infosys' market value touched an all-time high of Rs 6.12 lakh crore on the BSE. (Track Infosys share price here)
"We would like to inform you that pursuant to Regulation 29(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI LODR Regulations"), 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, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018. The outcome of the Board meeting will be disseminated to the stock exchanges after conclusion of the Board meeting on April 14, 2021, in accordance with the applicable provisions of the SEBI LODR Regulations," Infosys said in a stock exchange filing.
URL copied
IT major’s share hits 52-week high on account of buyback, third in 5 years
Share of IT major Infosys on Monday hit a 52-week high of 1,477.55 on the NSE on account of buyback news. The company has announced that it will consider a proposal for buying back fully paid-up equity shares at its board meeting to be held on April 13 and 14.Â
âThe 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,â the company statement said in a statement.