Infosys hits new high of Rs 774 ahead of March quarter results

Infosys shares hit a new high of Rs 774, up 1 per cent, on the BSE in early morning trade on Tuesday ahead of its January-March quarter (Q4FY19) results on Friday. The stock has surpassed its previous high of Rs 771 touched on February 8, 2019, in intra-day trade.

In the past three weeks, Infosys has outperformed the market by gaining 9 per cent, after the IT major commenced buyback offer on March 20. In comparison, the benchmark S&P BSE Sensex was up 2 per cent and the sector index S&P BSE IT index was up 6 per cent during the same period.

Infosys had, on January 11, announced a buyback of 103.25 million shares worth up to Rs 8,260 crore at Rs 800 per share. The company, on Monday, said it has extinguished 7.20 million equity shares, bought back up to March 26, 2019.