Infosys stock hits all-time high as firm to consider share buyback on April 14

Infosys stock touched-all time high today after the  IT firm said its board would consider share buyback on April 14. Infosys stock opened with a gain of 2.72%  at Rs 1,480 today against previous close of Rs 1,440.75 on BSE.

Infosys share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The IT stock has risen  123.34% in one year and gained 3.34% on BSE. The stock touched a record high of Rs 1,480, rising 2.72% against previous close.

"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, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," Infosys said in a regulatory filing.

The outcome of the board meeting will be disseminated to the stock exchanges after conclusion of the board meeting on April 14, it added.

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The board of the Bengaluru-based company is scheduled to meet on April 13 and 14, 2021, to approve and take on record the audited consolidated financial results of the company and its subsidiaries for the quarter and year ended March 31, 2021.

In August 2019, Infosys had bought back 11.05 crore of its shares under its Rs 8,260-crore buyback offer. Infosys had carried out its maiden buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at a price of Rs 1,150 per share.

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