The buyback is efficient utilisation of cash reserves to boost shareholder return, and would arrest the fall in stock prices in the near term.
Infosys is scheduled to announce its results for the second quarter of FY23 on October 13.
Infosys had approved its plans to buy back shares at a maximum price of Rs 1,750 per piece in the fourth quarterly results of FY21.
The IT services giant is also slated to hold a board meeting on April 13 and 14 to approve and take on record the consolidated financial results of the company for the quarter and year ending March 31, 2021.
The three-day annual strategy meeting at the software major's Mysore campus is generally dedicated to charting out a business blueprint, but recent friction between the founders and the management will also need to be addressed.
The three-day annual strategy meeting at the software major's Mysore campus is generally dedicated to charting out a business blueprint, but recent friction between the founders and the management will also need to be addressed.