Infosys Stock Soars Following ₹18,000 Cr Buyback Decision

The share price of Infosys witnessed a notable increase on Thursday, rising by as much as 4% after the IT giant revealed its largest-ever share buyback worth ₹18,000 crore.

In an exchange filing dated October 22, Infosys disclosed that its promoters, including Nandan Nilekani and Sudha Murty, have decided against participating in the buyback. This move is interpreted as a demonstration of their confidence in the company's long-term growth outlook.

The Bengaluru-based tech firm plans to buy back 10 crore shares at ₹1,800 each, presenting a premium of about 22% over the closing price from Wednesday. This buyback initiative aims to enhance shareholder value and improve the retail entitlement ratio due to the promoters' withdrawal.

Infosys has yet to announce the record date and additional procedural specifics related to the buyback. According to the company's latest shareholding structure, promoters hold a 14.3% stake as of the September quarter.

This update arrives shortly after Infosys published its results for the September quarter, which slightly surpass expectations from analysts. However, a modest adjustment in its full-year revenue forecast—from 1–3% to 2–3%—has somewhat dampened the prevailing optimism, suggesting a softer performance in the latter half of FY25.

On Thursday, shares of Infosys exchanged hands at ₹1,524.6 on the NSE, marking a 3.5% increase. Despite this rally, the stock remains down approximately 22% year-to-date, mirroring a more cautious sentiment across the IT sector.