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INFY - Infosys News Story

$18.38 -0.2  -1.2%

Last Trade - 07/05/21

Large Cap
Market Cap £56.10bn
Enterprise Value £54.07bn
Revenue £9.82bn
Position in Universe 164th / 6858

BUZZ-India's Infosys hits record high on share buyback proposal

Mon 12th April, 2021 5:07am
** Shares of India's second-biggest software services firm
by market value  INFY.NS  rise as much as 2.5% to record high of
1,477.55 rupees
    ** Bengaluru-based company said on Sunday it would consider
proposal to buy back equity shares at its board meeting on April
14 (
    ** Last year bigger rival Tata Consultancy Services  TCS.NS 
and smaller rival Wipro  WIPR.NS  bought back shares
    ** TCS will report its Q4 earnings later on Monday; INFY and
WIPR will report results later this week
    ** TCS shares down 0.6%, while WIPR falls 2.6%
    ** Nifty IT index  .NIFTYMET  that tracks software services
stocks down 0.7% on Monday and has gained over 7% in past two
weeks on expectations of strong quarterly results
    ** Broader Nifty 50 index  .NSEI  down 2.4% amid a
relentless surge in coronavirus cases in India  .BO 
    ** INFY shares up 14.75% so far this year as of last close
vs 16% gain in TCS and 16.5% rise in Wipro during the same
period; IT index up 12.9%

 (Reporting by Nallur Sethuraman in Bengaluru)
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