As Infosys announces buyback at 19% premium, should investors buy, sell or hold shares?
Infosys’ share buyback at Rs 1,800 per share offers a 19% premium over Thursday’s closing price and positions the stock as a buy on dips candidate, according to experts. They believe the announcement could trigger the next leg of the rally in India’s second largest IT services stock.
The leading IT services company late Thursday announced a buyback of Rs 18,000 crore through a tender route which is its biggest ever since its listing in 1995. The Bengaluru-based company will buyback about 10 crore shares, representing 2.41% of equity.
The company will buyback shares from all equity shareholders as on the record date including those who become equity shareholders on the record date. The company will announce the record date later.
The…
