The Infosys board has approved a buyback of 100 million fully paid-up equity shares with a face value of ₹5 each, at a price of ₹1,800 per share, amounting to ₹18,000 crore
Promoters including Narayana Murthy and Nandan Nilekani won't take part in Infosys' Rs 18,000-crore buyback, the company's largest in a decade, citing prior intention
Infosys will buy back ₹18,000 crore worth of shares at a premium, marking its biggest repurchase in a decade. Here's a look at major corporate buybacks in India
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Share buyback tax: A sharp rise (in share buyback quantum), analysts said, can be attributed to the significant changes in India's share buyback tax regime, which will come into effect from October 1
Starting October, under the revised budget provisions, taxes on share buybacks will be levied on the shareholders receiving the proceeds, according to their respective tax slabs
Symphony hit an over six-year high at Rs 1,748, as it rallied 17% in intra-day trade, extending its previous two-day surge after the company announced buyback at Rs 2,500 per share.
The uptick in the stock price came after the company posted a strong set of numbers in the June quarter. The board also announced a dividend and share buyback, which further fuelled the stock rally.
At least 11 firms, including Indus Towers Ltd., have or are set to approve share buybacks shortly after the new regime was proposed in the budget on July 23
Buyback and tax-free dividend had a gap and an equalisation was needed. Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest, he said
The board of directors of Godawari Power & Ispat are scheduled to meet on Saturday, June 15, 2024 to consider and approve a proposal for buyback of equity shares.
