Software services giant Infosys said on Sunday it would consider a proposal to buy back of its shares at its forthcoming board meeting scheduled for April 14. The board will meet to approve and take on record the audited consolidated financial results of the company and its subsidiaries for the quarter and year ended March. Infosys completed its first buyback of Rs 13,000 crore in December 2017, comprising 11.3 crore equity shares at a price of Rs 1,150 per share. It also announced a buy-back in early 2019 for an amount of Rs 8,260 crore and bought back 11.05 crore share at an average price of Rs 747.38 per equity share.
Bloomberg estimates peg the revenues for Q4FY21 at Rs 26,398 crore and net profits at Rs 5,168 crore even as the Street expects top tier IT players to report sequential revenue increases of 2.5-3.5% in constant currency terms. This would be among the best Q4 performances in several years though margins might not be as flattering due to wage hikes and higher overheads. The Infosys stock on Friday ended flat at Rs 1,440.75 apiece, having gained 140% over the past one year.
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