Infosys gains 3%, hits new high as board to consider buyback of shares

Shares of Infosys hit a new high of Rs 1,480, up 2.7 per cent, on the BSE in intra-day trade on Monday after the information technology (IT) major said it will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on Wednesday, April 14, 2021. This will be the third buyback of shares by the company.

“The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,” the statement said.