Indian tech giant Infosys announced Rs 13,000 crore buyback at a fixed price of Rs 1,150 per share. In an interview to CNBC-TV18, Moshe Katri, MD of Wedbush Securities spoke at length about the stock and the buyback.
The buyback is probably a side kick to where we are right now in terms of the story at Infosys, said Katri.
Speaking about business, he said Infosys' interim CEO will continue to focus on reaching out to clients.
He further said that a lot of de-rating or re-rating for Infosys will depend on company's guidance further.
Katri do not think the momentum created by Vishal Sikka will halt, going ahead.
According to him, Infosys investors need a commitment on long-term leadership of the company.
He further said that institutional investors do not like volatility at Infosys' top leadership.
Also watch accompanying videos of Sandeep Parekh of Finsec Law Advisors, Mohit Saraf, Senior Partner at Luthra & Luthra Law Offices, and CNBC-TV18's Nigel D'Souza to know more about the buyback.
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