No buyback of shares, salary hike to be considered in October: Infosys management

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, July 13, 2012, 11:55 [IST]

The Infosys management squashed rumours of a proposed buyback of shares, saying that it was never under consideration. Infosys Technologies is one company that has increased its capital giving bonus shares and it might not want to reduce its capital by now engaging in a buyback programme.

The company is sitting on a huge cash pile of more than Rs 20,000 crores, which prompted analysts to peculate on the prospects of a buyback, since the cash has not been utilised for takeovers as well.

Meanwhile, the management today told a television news channel that salary hikes would be re-visited only in the month of October 2012.

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