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Infosys plans share buyback of up to Rs 12,000 crore, its third in five years

Infosys posted their best sequential growth in about nine years in the third quarter ended December, when it grew by 5.3%. Clients’ demand for a digital overhaul of their businesses to mitigate disruptions of the kind they suffered during the pandemic is leading to a surge in orders for Indian IT services companies.

Since 2017, among the IT leaders listed in India, TCS and Wipro both had three buybacks each, while HCL Technologies had two. Wipro did its largest share buyback, worth $1.7 billion, in 2019. It did a buyback of Rs 2,500 crore in 2016 and Rs 11,000 crore in 2017.

During the nine months ended September last year, Cognizant returned $1.2 billion to shareholders through $833 million in share repurchases, and $362 million in dividend payments.

Source- Times of India

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