Ongoing buybacks may boost Infosys shares after April 12 results

On January 11, Infosys had announced to buy back shares worth up to Rs 8,260 crore at Rs 800 apiece

Infosys’ shares are likely to get support from the ongoing buyback process after the announcement of its fourth quarter results on April 12 as the company has bought back only around one tenth of the shares out of its planned repurchase programme till March 31.

According to regulatory filings given on the US Securities and Exchange Commission (SEC) and Indian exchanges, the Bengaluru-headquartered firm has bought back (that includes shares that are in the process of being bought back) 12.65 million shares till March 31 against its plan of buying 103.2 million shares from shareholders.

“Infosys is in the midst