Shares of Infosys in trade on June 30, 2020 have hit a fresh 52-week high of Rs. 1582.25. The scrip has gained a whopping 13 percent so far this month. Also, the stock's performance in a year has been overwhelming with gains of 117 percent, i.e. have doubled investors' money.
The company's board is slated to meet on July 14 for approving the financial earnings for the June ended quarter. As of writing this copy, as many as 1,088,249 shares of Infosys exchanged hands on the NSE. The scrip traded higher by 0.88% at Rs. 1576.
The company has begun the buyback of Rs. 9200 crore where the company wil buyback 5.25 crore equity shares at a maximum price of Rs. 1750 per share. As per the exchange filing, the company informed that the last date for the buyback shall be December 24, 2021 i.e. 6 months from the buyback opening date or when the company completes the buyback by distributing the amount equivalent to the maximum buyback size.
Average broker target for the Infosys scrip is Rs. 1439.21, i.e. a downside of over 8 percent.
For the quarter ended March 2021, the company reported total revenue at Rs. 26,856 crore, while operating expenses stood at Rs. 19,040 crore.