Infosys may consider Rs 12,000 crore share buyback: Sources

In a sign of the troubled times that the Indian IT sector has been going through, the management of Infosys may consider the option of a share buyback, according to people close to the IT major. The size of the share buyback could be a mammoth Rs 12,000 crore.

Currently, Infosys has about Rs 38,000 crore cash on its books.

While Infosys refrained to comment on the report terming it a “market speculation”, Deepak Shenoy of Capital Mind told CNBC-TV18 that rewarding shareholders through a buyback is the best option to generate cash.

IT companies are facing global headwinds from events such as US President Donald Trump’s policies and his stance on H-1B visas. Last week, a new bill, proposing to more than double the minimum wages to USD 130,000 for foreigners working in the US under the H-1B visa, was tabled in the House of Representatives.