Infosys must opt for share buyback, take cue from rival Cognizant: Pai

Pai sought to look at the issue of founders raising questions as shareholder activism

Former Infosys board member T V Mohandas Pai has called on Infosys to announce a share buyback that would help efficient use of capital by India's second largest software exporter and sought to look at the issue of founders raising questions as shareholder activism similar to that in rival Cognizant.

Pai's comments come in the wake of the larger rival Cognizant heeding to its investor hedge fund Elliott Capital, which holds 4 per cent stake in the company and had sought a board shakeup, a share buyback plan that would improve the share price of the company.

"Elliott Capital had written a