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Infosys shares gain as board to consider buyback proposal on October 13

The company is going to announce their September quarter (Q2FY23) earnings on October 13.

October 11, 2022 / 09:44 IST
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Infosys

Shares of IT major Infosys rose marginally in the early trade on October 11 after the company said it is going to consider share buyback along with its Q2 earnings.

The board of Infosys will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on October 13, 2022, in accordance with the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, company said in a stock exchange filing on Monday.

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The outcome of the Board meeting will be disseminated to the stock exchanges after conclusion of the Board meeting on October 13, 2022, in accordance with the applicable provisions of the SEBI LODR Regulations, it added.

This comes after brokerage firm Jefferies in its results preview for the sector had said that Infosys could announce a buyback. The firm expects that the buyback will be valued between Rs 8,700 crore and Rs 9,500 crore.