The board of India’s second-largest IT firm Infosys will meet on September 11 to consider a proposal for buyback of fully paid-up equity shares, a company statement said on September 8.
The announcement was made during the post-market hours. The stock of the company ended 0.59 percent lower at Rs 1,436.10 on NSE.
If approved, this will be the first buyback of shares since 2022, when the company had okayed a proposal of Rs 9,300 crore with a minimum buyback price of Rs 1,850 per share.
The buyback programme ran from December 7, 2022 to February 13, 2023, during which the IT firm acquired over 50 million shares through open market transactions.
The development also comes ahead of its September quarter results.
In the first quarter of this fiscal year, the company had posted an 8.7 percent on-year jump in consolidated net profit at Rs 6,921 crore, beating Street expectations. The firm’s revenue rose to Rs 42,279 crore, a rise of 7.5 percent.
Infosys said it expects revenue growth of 1–3 percent in constant currency terms for FY26, revised up from 0-3 percent earlier. The firm maintained its operating margin guidance at 20–22 percent.
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