Infosys Share Buyback: If you have shares of the giant IT company Infosys, then there is good news for you. The meeting of the board of Infosys is scheduled to be held on Thursday, October 13, 2022, in which the company is going to consider share buyback. In the board meeting, it will be decided that at what price the company will buyback shares equal to the total amount.
Also did buyback in 2021
Earlier, Infosys had also done a share buyback in September 2021. Then the company had bought back shares worth Rs 9200 crore from the open market. However, it will also be decided in the board meeting whether the company will do share buyback from the open market or it will be done through the tender offer route.
Quarterly results also on October 13
On October 13, 2022, there is a meeting of the board of Infosys, in which the company will also announce the results of the second quarter of the 2022-23 financial year along with the discussion on the share buyback. Along with this, a decision will also be taken on giving interim dividend to the shareholders.
Shares fell 27 percent in 9 months
If we look at the movement of Infosys stock in the last one year, it has disappointed investors. On January 17, 2022, the stock of Infosys was trading at Rs.1938. The stock has fallen by about 27 per cent from these levels. Due to the prospect of recession in America and Europe, there has been a heavy beating of the stocks of the IT sector, due to which the stock of Infosys has not survived.