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Shares of information technology (IT) major Infosys on Thursday posted their biggest jump in nearly nine months after the company said its board would consider a proposal to buy back equity shares.
Strong buying was witnessed in the counter by investors on optimism that the buyback will be at a rate much higher than the prevailing market price, experts said, adding, the buyback amount will be substantial, which would boost the company’s earnings per share (EPS) and return on equity. Shares of Infosys gained 4.54 per cent, the most since November 25, 2016, to close at Rs 1,021.2, the
Strong buying was witnessed in the counter by investors on optimism that the buyback will be at a rate much higher than the prevailing market price, experts said, adding, the buyback amount will be substantial, which would boost the company’s earnings per share (EPS) and return on equity. Shares of Infosys gained 4.54 per cent, the most since November 25, 2016, to close at Rs 1,021.2, the
