IT Major Infosys On August 26 Said A Board Committee Is Considering Closure

IT major Infosys on August 26 said a board committee is considering closure of the Rs 8,260 crore buyback offer with the company utilising almost full size of the issue approved.

The company in January had announced that it would buy back shares of the company for an amount aggregating up to Rs 8,260 crore at a price not exceeding Rs 800 per equity share.

"The recent volatility indicates excessive pessimism among the participants and we do not see this fading away anytime soon. Besides, we’ve scheduled derivatives expiry on Thursday i.e. on August 29 and that would further add to choppiness.

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