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Infosys Approves Largest-Ever Share Buyback Worth ₹18,000 Crore
Infosys Approves Largest-Ever Share Buyback Worth ₹18,000 Crore
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BTCCSquare news:
Infosys shares surged over 2% in early trading after the IT services giant announced its board approved a record ₹18,000 crore share buyback program. The buyback, priced at ₹1,800 per share—a 19% premium to Thursday's close—will repurchase up to 2.41% of outstanding shares.
The MOVE mirrors rival TCS's 2022 buyback of equal magnitude. Infosys reported strong free cash flow of $884 million in its June quarter, providing ample liquidity for the capital return initiative. Shareholder approval remains the final hurdle before execution.
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