The Infosys board announced the buyback of shares up to Rs 9,200 crore, the third such instance since 2017. BSE data showed that as many as 23 firms have opted for a share buyback since 2020 via open market operations. A buyback via open market operations means that a company agrees to buy a certain number of shares from the market at any price up to the price it fixed in the offer. Infosys on April 14 approved share buyback at Rs 1,750 per share. A buyback usually demonstrates promoters’ confidence in the company’s future. The reasons for the buyback could be to reward investors, reduce volatility, increase promoter holding, tax saving, and also it helps to improve financial ratios.
