Infosys Shares Rise Nearly 4% as Buyback Date Announced; NIFTY IT Jumps 2.5%

Prime Highlight

  1. Infosys shares surged 3.78% after the company announced that its ₹18,000 crore share buyback will take place from November 20 to November 26.
  2. The upbeat sentiment boosted the broader IT sector, pushing the NIFTY IT index up 2.45% with all 12 components in positive territory.

Key Facts

  1. Infosys plans to repurchase up to 10 crore equity shares at a fixed price of ₹1,800 each, representing about 2.41% of its total equity.
  2. TCS and LTIMindtree also saw gains after announcing a five-year NHS contract and an expanded Microsoft partnership, respectively.

Background

Infosys shares surged 3.78% to ₹1,542.70 on the NSE on Wednesday, a day after the IT major announced the opening date for its ₹18,000 crore share buyback programme. The company confirmed on Tuesday that the buyback window will remain open from November 20 to November 26, allowing eligible shareholders to tender their shares during this period.

Infosys plans to repurchase up to 10 crore fully paid-up equity shares with a face value of ₹5 each, representing around 2.41% of its total equity. The buyback price has been fixed at ₹1,800 per share. The company said it is buying back shares to follow its capital plan and give extra money to shareholders, while still saving enough for future operations.

The announcement triggered optimism across the broader IT sector as well. Shares of TCS rose 1.8% to ₹3,142.20 after the company revealed that it had secured a five-year contract from NHS Supply Chain. Under the agreement, TCS will modernise the NHS’s core business systems by deploying cloud and AI-enabled solutions, replacing its legacy platforms with a new ERP system designed for better scalability and efficiency.

LTIMindtree joined the rally, rising 2.7% to ₹5,907. The stock rose after the company announced it is expanding its global partnership with Microsoft. The collaboration aims to accelerate Azure adoption and deliver AI-driven transformation for enterprise clients. LTIMindtree said the alliance will help customers shift quickly from pilot programmes to full-scale productivity.

Boosted by gains across all major IT counters, the NIFTY IT index climbed 881.05 points, or 2.45%, to trade at 36,856.25, with all 12 components in positive territory.

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