Infosys Share Buyback: There is good news for the shareholders of Infosys. Investors of Infosys can earn big money by selling their shares at a higher price. In fact, the board of Infosys has put its stamp on the share buyback. The company will buy back shares worth Rs 9,300 crore from investors. The company will soon announce the record date regarding the share buyback.
Share buyback at Rs 1850
Infosys has fixed a floor price of Rs 1850 to buy back the shares from the shareholders. That is, on Thursday, the company will buy back shares at a price of 30 percent more than the closing price of the share. This means that the investors of Infosys can directly make a profit of 30 per cent. The company will announce the record date for the buyback separately later.
6021 crore profit in the second quarter
Along with this, Infosys has announced the results of the second quarter of the 2022-23 financial year. During this period, the company has made a profit of Rs 6021 crore, which is 11.1 percent compared to the same period of the last financial year. In the second quarter of last year, the company had a profit of Rs 5421 crore. The company's revenue from its operations in this financial year has been Rs 36,538 crore, which is 23.4 percent higher than in the same period last year. The company's revenue in the second quarter of last year was Rs 29,602 crore.
Interim Dividend of Rs 16.50
The board of Infosys has also announced an interim dividend of Rs 16.50 to its shareholders. The company will pay Rs 6940 crore as an interim dividend to the shareholders.
Also did buyback in 2021
Infosys also did a share buyback in September 2021. Then the company had bought back shares worth Rs 9200 crore from the open market. Earlier the company had bought shares from the open market.
Shares fell 27% in 9 months
Looking at the movement of Infosys stock in the last year, it has disappointed investors. On January 17, 2022, the stock of Infosys was trading at Rs.1938. The stock has fallen by about 27 per cent from these levels.