Infosys advances as board to mull buyback, dividend

Infosys rose 1.52% to Rs 680 at 11:38 IST on BSE after the company said that its board will on 11 January 2019 consider buyback of equity shares and special dividend.

The announcement was made after market hours yesterday, 8 January 2019.

Meanwhile, the S&P BSE Sensex was up 180.37 points, or 0.5% to 36,161.30

On the BSE, 4.85 lakh shares were traded in the counter so far compared with average daily volumes of 4.24 lakh shares in the past two weeks. The stock had hit a high of Rs 689.80 and a low of Rs 676.50 so far during the day.

In connection with the capital allocation policy approved by the board of directors of Infosys on 13 April 2018, the board of the company will consider proposal(s), including but not to limited to, buyback of fully paid-up equity shares of the company, payment of special dividend, for implementation of the Capital Allocation Policy at its meeting to be held on 11 January 2019.

Infosys will announce its Q3 December 2018 results on 11 January 2019. On a consolidated basis, Infosys' net profit rose 13.8% to Rs 4110 crore on 7.7% increase in revenues to Rs 20609 crore in Q2 September 2018 over Q1 June 2018.

Infosys is a global leader in next-generation digital services and consulting.

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