Infosys said, including the recently concluded buyback and final dividend for FY23, the company has returned approximately 86% of Free Cash Flow to shareholders under the current capital allocation policy.
Infosys raising the lower-end of FY23 revenue guidance was a positive surprise, Sharekhan said, adding that the share buyback of Rs 9,300 crore was on the expected lines.
Infosys share buyback could be at significant premium to the current market price, said YES Securities. That may, the brokerage said, limit downside for Infosys stock in the near term.