Infosys advances on share buyback plan

Infosys rose 2.93% to Rs 1,005.40 at 9:20 IST on BSE after the company announced that its board of directors will consider a proposal for buyback of equity shares at a meeting scheduled on 19 August 2017.

The announcement was made after market hours yesterday, 16 August 2017.

Meanwhile, the S&P BSE Sensex was up 18.44 points or 0.06% at 31,789.33.

On the BSE, 41,518 shares were traded on the counter so far as against the average daily volumes of 2.79 lakh shares in the past one quarter. The stock had hit a high of Rs 1,010 and a low of Rs 1,000 so far during the day. The stock had hit a 52-week high of Rs 1,080.70 on 14 October 2016 and a 52-week low of Rs 900.30 on 9 November 2016.

 

The stock had outperformed the market over the past one month till 16 August 2017, gaining 0.49% compared with the Sensex's 0.78% decline. The stock had, however, underperformed the market over the past one quarter, gaining 2.12% as against the Sensex's 3.89% rise. The scrip had also underperformed the market over the past one year, dropping 7.06% as against the Sensex's 13.21% rise.

The large-cap company has equity capital of Rs 1148.47 crore. Face value per share is Rs 5.

Infosys' consolidated net profit fell 3.3% to Rs 3483 crore on 0.2% decline in revenue to Rs 17078 crore in Q1 June 2017 over Q4 March 2017.

Infosys is a global leader in technology services and consulting.

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