Infosys on Monday said that the board would consider a buyback of shares on Thursday, with the earnings for the quarter ended September.
The software major conducted a share buyback of shares in September 2021 and bought back shares worth Rs 9,200 crores through the open market.
As of June end, the company’s cash and equivalents were at Rs 13,982 crores.
The Street would be keen to know if the mode of buyback will be open market or the tender offer route.
On a YTD basis, shares of Infosys have lagged behind Nifty50. The stock has fallen over 15 per cent, whereas the Nifty50 has lost just 3 per cent.
On Monday, the American Depository Receipts of Infosys was trading 2.2 per cent higher at $17.44 on the New York Stock Exchange.
