Infosys logo

INFY - Infosys News Story

$18.16 0.3  1.6%

Last Trade - 14/05/21

Large Cap
Market Cap £54.09bn
Enterprise Value £52.08bn
Revenue £9.73bn
Position in Universe 166th / 6846

Indian shares end higher on TCS buyback plans, banking gains

Mon 5th October, 2020 11:00am
BENGALURU, Oct 5 (Reuters) - Indian shares ended higher on
Monday as Tata Consultancy Services'  TCS.NS  market
capitalisation touched 10 trillion rupees ($136.46 billion) on
share buyback plans and banking stocks gained after the
government said it would waive interest levies on some loans
under moratorium.
    The NSE Nifty 50 index  .NSEI  ended 0.76% higher at
11,503.35 and the S&P BSE Sensex  .BSESN  gained 0.71% to close
at 38,973.70. 
    IT heavyweight TCS said it would consider a share buyback
later in the week when it reports results, sending its shares up
as much as 8.1% to a record high of 2,728.1 rupees.
    The Nifty IT index  .NIFTYIT  rose 3.47%. Shares in TCS,
Wipro Ltd  WIPR.NS  and Infosys Ltd  INFY.NS  were among the top
percentage gainers on the blue-chip Nifty 50.
    The Indian government had told the country's top court it
would waive the compounding interest component on loans up to 20
million rupees under a COVID-19 support plan, a legal filing
    India's Supreme court will have its next hearing on the
interest waiver case on October 13. 
    The NSE Bank index ended 0.56% higher, with shares of
IndusInd Bank  INBK.NS  rising as much as 6.5% and Canara Bank
Ltd  CNBK.NS  shares closing 0.6% higher.
($1 = 73.2800 Indian rupees)

 (Reporting by Philip George in Bengaluru; Editing by
Ramakrishnan M.)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.