Infosys climbs 2% on reports it may consider Rs 112 billion share buyback

The share buyback could happen at around 20-25 per cent premium to the current market price, according to news reports.

Shares of IT major Infosys climbed as much as 2 per cent to Rs 659 apiece on Monday amid reports the IT major may consider a second share buyback proposal of $1.6 billion (Rs 112.30 billion) in which some founding family members could tender their shares. 

The share buyback could happen at around 20-25 per cent premium to the current market price, The Times of India reported. The announcement of the buyback can be a part of the board resolution when it meets on January 11, the report added.

Infosys did not immediately reply to the newspaper's request seeking a