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Tuesday, January 25, 2022

The stock market fell by more than 1700 points, but the share of this IT company reached an all-time high

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Infosys share price: Infosys said on Sunday that its board of directors will consider the offer of share buyback on April 14.

Earlier, Infosys had a buyback of Rs 8,260 crore in August 2019.

Today the stock market is witnessing a huge decline, but the share of IT company Infosys reached its all-time high. Infosys said on Sunday that its board of directors would consider the proposal for share buyback on April 14. After this, its stock rose today.

Infosys stock closed at Rs 1441 level last week. This morning it opened at the level of Rs 1474 and during trading it reached the level of Rs 1477.55 which is its all time high level. At 3.10 pm, it was trading at a level of Rs 1424 with a fall of Rs 17.05. Its market cap at this time was 6.07 lakh crore rupees. At this time, the Sensex was trading at a level of 47823 with a fall of 1768 points (-3.57%) and the Nifty was down by 548 points at 14286.

Decision will be taken on share buyback on April 14

Infosys in a notice to the stock market said, “The Company’s Board of Directors in accordance with the Securities and Exchange Board of India (Securities Repurchase) Regulations, 2018 at its meeting held on April 14, 2021 (paid-up equity) shares) will consider the proposal for repurchase of capital. “The meeting of the board of directors of the company of Bengaluru is going to be held on April 13-14, 2021. It will approve and record the financial results of the company and its subsidiaries in the quarter and financial year ended March 31, 2021.

Share buyback of 8260 crores in August 2019

Earlier, Infosys had repurchased 11.05 crore shares worth 8,260 crore rupees in August 2019. The first share repurchase of the company was worth Rs 13,000 crore in December 2017. In this, the company had repurchased 11.3 crore shares at the rate of Rs 1,150 per equity.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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