Year-on-year growth was in double digits across all business segments in constant currency terms. In the quarter, Infosys reported strong Q2 performance with year-on-year growth at 18.8% and sequential growth at 4.0% in constant currency. In Q2FY23, the company garnered a consolidated net profit of ₹6,021 crore up by 11% yoy, while revenue stood at ₹36,538 crore higher by 23.43% yoy. It is witnessing an acceleration in its growth strategy due to its industry-leading automation capabilities and the client-level shift towards cost rationalization programmes. The stock brokerage's note stated that Infosys has accelerated deal win momentum through engagement with deal advisors, consulting firms, and private equity players.įurther, the brokerage's note explained that strong deal wins across Digital and Automation verticals have given it an edge over other listed peers in the recently announced Q2FY23 results. In its research note dated November 30, AUM Capital gave a buy recommendation on Infosys stock. The broker will then place a sell order whenever the company places a buy order under the buyback plan.Īs per ICICI Direct, the trade would get executed at the offer price or lesser only when the price offered by the shareholder matches the buy order placed by the company. In case, a shareholder plans to participate in the buyback, all they have to do is inform their broker of the equity shares they desire to sell. Last month, in its blog on Infosys share buyback, ICICI Direct stated that since the buyback is of the open market there is no special participation required.Īny equity shareholder who owns Infosys shares in their Demat account is eligible for participating in the buyback. How to participate in Infosys share buyback? Also, the buyback gives an opportunity to shareholders to increase their percentage of holding in the company. In the general term, the buyback is expected to improve return on equity through the distribution of cash and improve earnings per share by a reduction in the equity base in the long term, thereby leading to a long-term increase in members’ value. Further, its consolidated cash and investments stood at ₹38,921 crore in Q2FY23 against ₹34,854 crore in Q1FY22.Īccording to Infosys notice, the buyback will help the company to return surplus cash to its shareholders. Of the total buyback size, Infosys proposed to utilise at least 50% of the maximum buyback which would come to ₹4,650 crore (50% of ₹9,300 crore).Īs of September 30, 2022, Infosys has a free cash flow of ₹4,752 crore compared to ₹5,106 crore in Q1FY23. The company will be implementing this buyback through its free reserves. The buyback price should not exceed ₹1,850 per share. Infosys' total buyback offer would be over 5.02 crore equity shares aggregating to ₹9,300 crore at a face value of ₹5 each.
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