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Infosys aims to double its growth in FY22

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Infosys aims to double its growth in FY22
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Last Updated: Apr 15, 2021, 08:27 AM IST
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Infosys, while declaring its Q4 results and revenue growth guidance on Wednesday, also announced a share buyback worth Rs 9,200 crore and a final dividend payout of Rs 15 per share.
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Terming Infosys’ growth forecast as “an extremely strong guidance”, CEO Salil Parekh said that “this is coming with a strong foundation and demand is coming through (in) a broad-based way".
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Bengaluru | Pune:
Infosys Ltd. said it would double its growth in the current financial year, as India’s second largest software services exporter struck a confident note—announcing a Rs 9,200-crore share buyback by paying not more than Rs 1,750 per share.

Infosys shares dip 6% on profit booking post March quarter results


Shares of Infosys were down 6 per cent at Rs 1,320 on the BSE in intra-day trade on Thursday on account of profit booking in the counter following the company's March quarter numbers.
The IT bellwether on Wednesday posted a 17.47 per cent year-on-year (YoY) growth in net profit at Rs 5,076 crore for the March quarter of the financial year 2020-21 (Q4FY21) as against Rs 4,321 crore posted in the same period last fiscal. Sequentially, however, the figure dipped by 2.32 per cent from Rs 5,197 crore posted in the December quarter of FY21.
The company’s revenue during the March 2021 quarter (Q4FY21) grew by 2 per cent on a quarter-on-quarter (QoQ) basis in constant currency (CC) terms, lower than analysts' estimates, due to offshoring which resulted in a fall in the counter.

Infosys, Wipro, HDFC Bank and other stocks to watch out for on April 15

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HDFC Bank
It plans to raise up to ₹50,000 crore over the next 12 months by way of Tier-II capital bonds, long-term bonds and perpetual debt instruments.
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Dr. Reddy's Laboratories
It will distribute 250 million doses of the Sputnik V vaccine and is in talks with the Indian government on pricing.
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Aditya Birla Capital
Its board has approved Aditya Birla Sun Life AMC’s initial public offer (IPO), through which over 3.8 crore shares will be made available for subscription.

Infosys, country's second largest software services company, Loses Over 3% Post Q4 Numbers

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Infosys Loses Over 3% Post Q4 Numbers
Infosys, the country's second largest software services company, on Wednesday reported an annual increase of 17 per cent in net profit at Rs 5,076 crore on the back of large contract wins
Updated: April 15, 2021 10:31 am IST
At 10:15 am, the shares of Infosys were trading lower by 3.1 per cent on the BSE
Infosys shares are trading lower by over 3 per cent in a weak market a day after announcing its Q4 numbers. The country's second largest software services company, on Wednesday, reported an annual increase of 17 per cent in net profit at Rs 5,076 crore on the back of large contract wins as the COVID-19 pandemic drove digitisation efforts in multiple sectors. At 10:15 am, the shares of Infosys were trading at Rs 1,353.25, lower by Rs 43.90 or 3.1 per cent, on the BSE.

Brokerages remain bullish on Infosys despite Q4 earnings miss

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The company's March quarter revenue growth missed Street estimates.

Infosys Q4 results: Infosys Q4 Results: Consolidated PAT falls 2.6% QoQ, misses estimate; firm to buy back shares at 25% premium

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Infosys Q4 Results: Consolidated PAT falls 2.6% QoQ, misses estimate; firm to buy back shares at 25% premium
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Infosys Q4 Results: Consolidated PAT falls 2.6% QoQ, misses estimate; firm to buy back shares at 25% premiumBy
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Synopsis
Infosys reported a 2.8 per cent quarter-on-quarter growth in consolidated revenues for the quarter to Rs. 26,311 crore, which was slightly lower than analysts’ estimate of Rs. 26,701.8 crore.
Infosys Q4 Results: PAT misses estimates; firm approves Rs 9,200 cr share buyback plan and dividend of Rs 15
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MUMBAI: Information technology giant Infosys today reported a 2.6 per cent on quarter fall in its consolidated net profit to Rs 5,078 crore for the quarter ended March, which was lower than analysts’ estimate of Rs 5,170.2 crore.

Infosys Q4 results: Infosys Q4 takeaways: Spike in attrition rate, slowing deal momentum & other highlights

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MUMBAI: Information technology giant Infosys on Wednesday reported March quarter earnings slightly below analysts’ estimates. However, the IT services company gave a guidance for strong double-digit revenue growth for 2021-22 reflecting the excellent demand conditions.
“A strong momentum exiting FY21, alongside a focused strategy to accelerate client digital journeys, gives us confidence for a stronger FY22,” Chief Executive Officer Salil Parekh said in an earnings statement.
The company’s consolidated profit dipped around 3 per cent on a sequential basis for the quarter, but revenues continued on their growth path, rising around 3 per cent. Margin performance was slightly underwhelming at 24.5 per cent, 90 basis points lower than that in the previous quarter.

Infosys Buyback | Infosys likely to announce Rs 9,000-14,000 crore share buyback tomorrow


Updated Apr 13, 2021 | 13:11 IST
Infosys shares were trading 2.76% lower at Rs 1,387.80 apiece in the afternoon trade. This is on top of Monday's 1% correction in the stock. 
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New Delhi: Infosys, India's second-biggest outsourcer, is likely to announce a share buyback in the range of $1.2 billion to $1.9 billion (Rs 9,000 crore to Rs 14,000 crore) tomorrow (Wednesday) when its board meets to take a decision on the proposal.   
“The last two buybacks were through open market so they are likely to continue doing that. The size would be Rs 8,000 crore to Rs 10,000 crore, not more than that," the
Economic Times quoted Neerav Dalal, research analyst at Maybank Kim Eng Securities as saying.

Infosys Share Price Today: Infosys Falls Ahead Of Share Buyback Proposal, Earnings Announcement

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Infosys Share Price: Shares were last trading 2.49 per cent lower at Rs 1,390.35 on BSE
Share price of IT major Infosys fell around three per cent on Tuesday, April 13, ahead of its fourth-quarter corporate earnings results due tomorrow - April 14, 2021. The shares of the country's second-largest software services company witnessed a decline today after it recently announced that the board will consider a proposal to buyback shares at its upcoming board meet on Wednesday, April 14, 2021. On Tuesday, Infosys opened on the BSE at Rs 1,433, touching an intra day high of Rs 1,435.95 and an intra day low of Rs 1,375, in the session so far. (

Infosys shares buyback: Infosys buyback decision on Wednesday: What to expect?

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NEW DELHI: Infosys will consider a buyback plan at its meeting on Wednesday, alongside its March quarter earnings.
Nomura India said it was expecting the company to consider an open market buyback, similar to the one done in 2019.
Infosys had a net worth of $9.6 billion and net cash of $4.6 billion as of December quarter, and therefore can buy back a maximum of $2.4 billion, based on 25 per cent of its net worth, without shareholder’s approval.
"We expect Infosys to announce a buyback in the range of $1.3-$1.9 billion at a maximum price of Rs 1,650, equivalent to 1.5-2 per cent of the outstanding equity. We reiterate Infosys as our top pick in the Tier-1 IT space with a target price of Rs 1,620," the brokerage said.

Analysts estimate that Infosys may offer buyback of shares at ₹1,600 to ₹1,650 a piece

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Infosys announced that it will consider buyback of equity shares during its board meeting set to take place tomorrow, on April 14.Analysts estimate that shares

TCS Share Price: Stocks in the news: TCS, Infosys, Tata Power, NMDC and Mahindra & Mahindra

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After year-long negotiations, the Tatas have terminated their near $2- billion investment deal with Petronas in Tata Powers proposed renewable energy InvIT.

Stocks to watch: TCS, Infosys, Ambuja Cements, NMDC, Balrampur Chini


Here are the top stocks that are likely to be in focus today:
Earnings Today: Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance and Lloyds Metals and Energy will announce their quarterly earnings on April 12.
Analysts expect TCS to post 9 per cent YoY growth in March quarter revenue aided by certain large deals such as Postbank and Prudential Financial, ramp-up in multiple $50-100 million deals won in the preceding quarter, and strong demand in areas of cloud and customer experience.
Infosys: The company on Sunday said its board will consider a buyback proposal at its meeting on April 14.
Barbeque Nation: UTI Mutual Fund acquired 1.77 per cent equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.01 per cent.

Infosys gains 3%, hits new high as board to consider buyback of shares


Shares of Infosys hit a new high of Rs 1,480, up 2.7 per cent, on the BSE in intra-day trade on Monday after the information technology (IT) major said it will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on Wednesday, April 14, 2021. This will be the third buyback of shares by the company.
“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 statement said.

Infosys Share Price News: Infosys Hits All-Time High; Board To Consider Share Buyback Proposal

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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.

infosys buyback share price 52 week high record date q4 results

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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. 
“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 company statement said in a statement.

Infosys share buyback: Infosys board to consider share buyback proposal on April 14

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NEW DELHI: Flushed with cash, IT companies are finding different ways to reward their shareholders.
Infosys on Sunday said its board will also decide on a buyback programme, along with March quarter earnings, in its next board meeting.
"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,” the company said in a regulatory filing.
Infosys is likely to report a flat-to-negative sequential growth in March quarter profit on a 2-4 per cent quarter-on-quarter (QoQ) rise in sales. Sequentially, growth in dollar revenues and in constant currency (CC) terms is likely in 3-5 per cent range.

Infosys hits fresh record high; m-cap crosses Rs 6-trillion mark


Shares of Infosys hit a fresh record high of Rs 1,425 after rising nearly 3 per cent on the BSE in intra-day trade on Monday, which propelled the company's market capitalisation (market-cap) beyond Rs 6 trillion mark. The stock surpassed its previous high of Rs 1,406.25, touched on March 16, 2021.
At 10:01 am, Infosys was trading 2 per cent higher at Rs 1,411.80, with a market-cap of Rs 6.01 trillion, the BSE data shows. In comparison, the S&P BSE Sensex was down 2 per cent or 1,030 points at 48,999. In the past two months, Infosys has outperformed the market by surging 12 per cent, against 3 per cent decline in the benchmark index.

Infosys Share Price News: Infosys Market Cap Crosses Rs 6 Lakh Crore For First Time

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Infosys Market Value Crosses Rs 6 Lakh Crore For First Time
The gauge of IT shares on the National Stock Exchange - Nifty IT index - rose over 2 per cent with all the 10 constituents trading higher.
Updated: April 05, 2021 2:56 pm IST
Market value of the country's second largest software services company - Infosys - crossed Rs 6 lakh crore-mark for the first time, data from BSE showed. Shares of the Bengaluru-based IT company rose as much as 2.86 per cent to hit an all-time high of Rs 1,425, on hopes of better-than-expected March quarter earnings, analysts said. Infosys' market capitalization on the BSE touched an all-time high of Rs 6,01,797 crore.

Markets today: Sensex crashes by up to 1,400 points as Covid cases, restrictions spook markets

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All sectoral sub-indices, with the exception of Nifty IT, faced losses.

Nifty IT index slips over 4% on profit booking; Infosys, HCL Tech tank 5%


Shares of information technology (IT) companies were trading up to 5 per cent on the National Stock Exchange (NSE) in intra-day trade on Thursday on account of profit booking ahead of Accenture’s second-quarter fiscal year 2021 (FY21) results later today. Accenture is a global professional services company with leading capabilities in digital, cloud and security. The company follows a September-August financial year.
At 02:19 pm, Nifty IT index, the top loser among sectoral indices, was down 4 per cent as compared to a 1.5 per cent decline in the Nifty50 index. In the month of March, the IT index has outperformed the market by surging 7.7 per cent as against a 1.3 per cent gain in the benchmark index till Wednesday.

Investors have lost nearly ₹9 lakh crore in last five days as the spike in COVID-19 cases bursts the market bubble

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-2.68%
“A sharp rise in daily Covid-19 cases in India has raised apprehensions about sustainability of ongoing rebound in corporate earnings,” Binod Modi, head of strategy at Reliance Securities said. However, he believes that “stringent measures by the administration” can control the current wave of COVID-19 infections and the sell-off, in the meantime, may pull down shares to bargain prices.
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The day started on a positive note as the Federal Reserve seemed less worried about inflation in the US. A rise in inflation in the US would force the American central bank to increase interest rates, making it more attractive for global investors to pull money out of emerging markets like India and invest it in the US. This was the overwhelming fear in the run up to the Fed meet and it had come undone at the end of it.

IT shares in demand; Infosys, LTTS, Sonata Software hit record highs


Shares of information technology (IT) companies, on Tuesday, were in focus at the bourses, with six stocks, Infosys, Mindtree, L&T Technology Services (LTTS), Sonata Software, Coforge and Intellect Design Arena from the S&P BSE IT index hitting their respective record highs in intra-day trade on expectation of strong earnings.
At 10:04 am, the S&P BSE IT index, the top gainer among sectoral indices, was up 1.5 per cent, as compared to 0.35 per cent rise in the S&P BSE Sensex. The IT index hit an intra-day high of 26,784 points, and is 1 per cent away from its record high of Rs 27,074 on January 14, 2021. Thus far in the month of March, the BSE IT index has rallied 10 per cent, against 3 per cent gain in the Sensex.

infosys esops: Infy offers Esops of Rs 40 cr to Parekh, Rao and others

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Mumbai:
Infosys has vested employee stock options (ESOPs) of nearly Rs 40 crore to its top executives, including CEO Salil Parekh and COO Pravin Rao, a filing with US Securities and Exchange Commission (US SEC) showed on Wednesday.
Parekh, who completed three years at the helm of Infosys in January and helped it return to growth mode, received shares worth Rs 4.33 crore while Rao got Rs 1.94 crore of stock.
More than 30 executives, including CFO Nilanjan Roy, HR head Krishnamurthy Shankar, Presidents S. Ravi Kumar and Mohit Joshi also received shares of the company.
In a separate regulatory filing, Janhavi Nilekani, the daughter of Infosys Chairman Nandan Nilekani and part of the promoter group, gifted 777,600 equity shares worth Rs 106 crore to Tanush Nilekani Chandra, her son.

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