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Infosys Sets $1.13 Billion Share Buyback, Reports 11% Rise In Q2 Profit

Indian software services giant Infosys Ltd reported an 11% jump in second-quarter profit on Thursday, helped by strong demand for its digital services.

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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.

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

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

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