Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
LIVE TV DownloadNews18 App
News18 English
»
1-min read

Infosys Fixes Nov 1 as Record Date For Rs 13,000 Crore Buyback

The share buyback, which will be the first in the company's 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs 1,150 apiece.

PTI

Updated:October 9, 2017, 11:43 PM IST
facebookTwittergoogleskypewhatsapp
Infosys Fixes Nov 1 as Record Date For Rs 13,000 Crore Buyback
Infosys India. (File photo)
New Delhi: India's second largest software services firm Infosys on Monday said it has fixed November 1, 2017 as the record date for its up to Rs 13,000 crore share buyback programme.

"The Buyback Committee has approved and fixed November 1, 2017 to be the record date for determining the entitlement and the names of the equity shareholders to whom the letter of offer will be sent and will be eligible to participate in the buyback...," Infosys said in a regulatory filing.

It added that the buyback proposal had been approved by the Board on August 19 and by the shareholders earlier on Monday.

The share buyback, which will be the first in the company's 36-year long history, will see Infosys buying back over 11.30 crore shares at Rs 1,150 apiece.

The buyback had been a long standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.

Share buybacks typically improve earnings per share and return surplus cash to shareholders, while supporting share price during period of sluggish market condition.

Earlier this year, its larger rival Tata Consultancy Services completed a Rs 16,000-crore mega buyback offer. Other competitors like Cognizant, Wipro and Mindtree had also made similar announcements.

Infosys has also fixed November 1 as the record date for payment of interim dividend, subject to Board decision on the same. Infosys is slated to announce its financial results for the July-September 2017 quarter on October 24.
| Edited by: Ananya Chakraborty
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 
Most Active
Company Price Change %Gain
IndusInd Bank 1,518.90 4.91
Reliance 1,340.40 0.04
SBI 341.10 1.05
Indiabulls Hsg 784.55 -2.87
Yes Bank 137.55 -2.45
Company Price Change %Gain
IndusInd Bank 1,517.55 4.84
Indiabulls Hsg 785.95 -2.76
Reliance 1,340.70 0.07
Yes Bank 137.70 -2.34
SBI 340.85 0.98
Top Gainers
Company Price Change %Gain
IndusInd Bank 1,518.90 4.91
Sun Pharma 421.20 3.02
BPCL 384.25 2.62
Bajaj Auto 3,047.20 2.28
Coal India 241.25 1.71
Company Price Change %Gain
IndusInd Bank 1,517.55 4.84
Sun Pharma 420.65 2.92
Bajaj Auto 3,049.70 2.31
Tata Motors 179.45 1.61
Hero Motocorp 2,698.80 1.58
Top Losers
Company Price Change %Gain
Tech Mahindra 749.95 -2.99
Indiabulls Hsg 784.55 -2.87
Yes Bank 137.55 -2.45
Bharti Infratel 269.35 -2.44
ITC 299.75 -2.01
Company Price Change %Gain
Yes Bank 137.70 -2.34
ITC 299.55 -1.88
TCS 2,082.75 -1.25
Power Grid Corp 182.10 -1.03
HUL 1,766.15 -0.97

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results