Infosys gains 4% on share buyback proposal

The scrip of Infosys rose by 4 per cent today after the company said that the board of directors will consider a proposal for buyback of equity shares at its meeting to be held on Saturday.
The stock jumped 3.91 per cent to Rs 1,015 on BSE.
On NSE, it went up by 4 per cent to Rs 1,014.80.
In terms of equity volume, 2.54 lakh shares of the company were traded on BSE and over 77 lakh shares changed hands at NSE during the morning trade.
Infosys informed BSE that the board of directors of the company will consider a proposal for buyback of equity shares at its meeting to be held on August 19, 2017.

Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.