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Market Cap Of 4 Of Top-10 Most-Valued Companies Decline By Rs 23,417 Crore

The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit.

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Infosys Q1 net profit up 3.2%, misses estimates as costs surge

Net profit is at Rs 5,360 crore, or Rs 12.78 a share, compared with Rs 5,195 crore, or Rs 12.24 per share, in the same period a year back, the company said in a statement.

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Infosys stock gains sharply in early trade. Here's why

WHAT IS A BUYBACK?
A buyback is an option for repurchasing free-float equity shares of a company by promoters. The company pays its shareholders a fixed value per share and takes back equity shares, which were distributed among public and private investors, as part of its ownership.
It may be noted that the buyback is beneficial for investors as the company pays a higher price for equity shares than the market value.
There are various reasons why companies opt for buybacks including plans to consolidate ownership, increasing key financial ratios and strengthening company finances.
Infosys has already announced two buybacks in the past and this will be the third one. In 2017, the company conducted its first buyback of shares, returning Rs 13,000 crore to investors at Rs 1,150 per share. Infosys conducted its second buyback in 2019 at Rs 800 per share.

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Half of Infosys' revenues now from digital, co expects 4.5-5% growth in FY21

Half of Infosys' revenues now from digital, co expects 4.5-5% growth in FY21
While Infosys adopted a three-pronged approach to protect its margins at the beginning of the year owing to COVID-19, CFO Nilanjan Roy said that all of it worked well and had helped margin expansion
Rukmini Rao | January 14, 2021 | Updated 01:20 IST
KEY HIGHLIGHTS
Revenue growth guidance increased to 4.5-5 per cent in constant currency
Bengaluru-based IT major Infosys posted a strong growth in Q3 FY21 and raised its full year revenue guidance on expected lines. The company posted a 5.3 per cent sequential dollar revenue growth in constant currency and 6.6 per cent on year-on-year basis. Digital revenues also crossed the 50 per cent mark of the total revenue with digital growing at 31.3 per cent on a year-on-year in constant currency terms.

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