The earnings season will kickstart with frontline software majors TCS, Infosys, and Wipro scheduled to release their earning numbers this week. Of these, Tata Consultancy Services will announce its results on Monday. More than Jan-Mar earnings, which are expected to be strong, investors will closely watch the companies' commentaries for cues as the second wave of Covid-19 has taken hold in the country
IT major Infosys announced on Sunday that it is planning to buy back more shares again with a proposal in this regard on the agenda at its board meeting on April 14. "The board will consider a proposal for buyback of fully paid-up equity shares at its meeting on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," it said.
The board meets on April 13-14 here to approve its financial results for the fourth quarter and fiscal year 2020-21. The last time (the second) when the IT major bought back shares was in March 2019, buying 2.36% of the paid-up capital (103.25 million shares) worth Rs 8,260 crore at Rs 800 per share through the open market route.
At 10.20 AM, shares of Infosys was trading at Rs 1437 per piece down by Rs 4 from its previous closing of Rs. 1,441 pieces on the NSE. In comparison, the NSE Nifty touched at 14,445 down 389 points in trade.
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