Infosys co-founder SD Shibulal buys firm's shares for fifth time in May

Infosys co-founder S D Shibulal on Monday bought shares worth nearly Rs 93 crore of the firm through an open market transaction.

This is for the fifth time in May when Shibulal has picked up the shares of the IT major through an open market deal.

Prior to this, he bought shares worth Rs 100 crore on each of the four occasions in May.

The scrips were offloaded by his wife and firm's promoter Kumari Shibulal, on all occasions.

As per BSE block deal data, Shibulal purchased more than 6.67 lakh shares on Monday at an average price of Rs 1,391 per share, valuing the deal at Rs 92.9 crore.

As per a separate transaction, Kumari sold the 6.67 lakh shares at the same price of Rs 1,391 per scrip.

Shibulal and Kumari are both promoters of the IT major and held 0.05 per cent and 0.21 per cent stakes in the company, respectively, as per shareholding data for March 2021 quarter.

Shares of Infosys on Monday ended 0.79 per cent lower at Rs 1,393.65 apiece on the BSE.