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Infosys: Buyback won't move the needle

Vishal Sikka's exit and spat between promoters, board to weigh on stock despite buyback offer price

Ram Prasad Sahu  |  Mumbai 

Infosys’ first-ever buyback programme of Rs 13,000 crore at a price of Rs 1,150 per share is at a whopping 24.6 per cent premium to its Friday’s closing price of Rs 923. Normally, a buyback of this nature would be welcomed by investors, given that the company has been very rigid in the past on returning cash back to shareholders and also in acquiring companies. Further, it is expected to boost the company’s return ratios following efficient use of its $6 billion (Rs 38,000 crore) cash pile. However, despite the positives, the buyback is unlikely to move the ...


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First Published: Sun, August 20 2017. 23:01 IST