Investing.com –Â On Sunday, IT major Infosys Ltd (NS:
) announced that it will consider a share buyback on Wednesday, April 14. â????The Board of the Company will consider a proposal for buyback of fully paid-up equity shares of the Company at its meeting to be held on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,â???? the company said in a regulatory filing. A report in The Times of India said that the offer is expected to be in the Rs 1,650-Rs 1,750 range.
It is also the day when the company will announce its results for Q4 FY21 and FY21 ending on March 31, 2021. According to an analystsâ???? poll by Bloomberg Infosys is expected to record revenues of Rs 26,397.90 crore, while net profit is expected to come in at Rs 5,168.30 crore.
If the company meets these expectations, it would be one of its finest Q4 performances in recent years. Expect the stock to move up further. IT stocks have been on an uptick the last month as the rupee has got weaker against the dollar. Infosys stock has gained over 126% in the last year. It closed April 13, 2020 at Rs 637.4 and it closed April 9, 2021, at Rs 1,441. Infosys has gained over 15% since February 28 this year.
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