Infosys hits new high as buyback via open route commences on Friday

Infosys has proposed to buy back shares at a maximum price of Rs 1,750 per share

Shares of Infosys hit a new high of Rs 1,539.90, up 2.5 per cent on the BSE in intra-day trade on Thursday after the information technology (IT) major announced that its Rs 9,200 crore buyback via open route will commence on Friday, June 25, 2021.

In the past one month, Infosys has outperformed the market by surging 14 per cent, as compared to 4 per cent rise in the S&P BSE Sensex. A sharp run-up in stock price has seen Infosys' market capitalisation cross Rs 6.5 trillion. At 11.00 am, the market-capitalisation of Infosys stood at Rs 6.56 trillion