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.
Infosys announced its July-September quarter results for the financial year 2021-22 on Wednesday, October 13, reporting a net profit of Rs 5,421 crore, up 11.88 per cent year-on-year, on a consolidated basis. The country's second-largest information technology (IT) services provider by market value, raised its annual revenue guidance as pandemic-led digital services demand helped the company in securing large deals from global businesses looking to expand their digital offerings.