By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Universal Times MagazineUniversal Times MagazineUniversal Times Magazine
  • Home
  • Industries
    • Automobile
    • Aviation
    • Banking
    • Cryptocurrency
    • E- Commerce
    • EdTech
    • Energy and Petroleum
    • Fintech
    • FMCG
    • Information Technology
    • NBFC
    • Oil
    • Pharmacy
    • Telecom
    • Other Business News
  • Blogs
  • World
  • Jobs
  • Careers
  • About us
  • Privacy Policy
  • Contact
Search
Copyright © 2020-2024 Universal Times Magazine. All Rights Reserved.
Reading: Infosys announces ₹93 billion buyback and interim dividend
Share
Notification
Aa
Universal Times MagazineUniversal Times Magazine
Aa
  • Home
  • Industries
  • Blogs
  • World
  • Jobs
  • Careers
  • About us
  • Privacy Policy
  • Contact
Search
  • Home
  • Industries
    • Automobile
    • Aviation
    • Banking
    • Cryptocurrency
    • E- Commerce
    • EdTech
    • Energy and Petroleum
    • Fintech
    • FMCG
    • Information Technology
    • NBFC
    • Oil
    • Pharmacy
    • Telecom
    • Other Business News
  • Blogs
  • World
  • Jobs
  • Careers
  • About us
  • Privacy Policy
  • Contact
Follow US
  • Home
  • Industries
  • Blogs
  • World
  • Jobs
  • Careers
  • About us
  • Privacy Policy
  • Contact
Copyright © 2020-2024 Universal Times Magazine. All Rights Reserved.

Advertisement

Universal Times Magazine > Blog > Information Technology > Infosys announces ₹93 billion buyback and interim dividend
Information Technology

Infosys announces ₹93 billion buyback and interim dividend

Gaurav Verma
Last updated: 2022/10/14 at 3:06 PM
Gaurav Verma
Share
2 Min Read
SHARE

Advertisement

Shares of Infosys climbed 5 per cent in Friday’s session after the IT firm came out with a healthy set of September quarter results. The second-largest software exporter increased its lower ends of the FY23 revenue and margin forecasts and okayed a Rs 9,300 crore in share buyback, impressing Dalal Street investors.

By 9.17 am, the scrip had climbed 4.78 per cent to hit a high of Rs 1,487.70 on BSE. 

Mitul Shah, Head of Research at Reliance Securities said Infosys numbers were strong and that margin beat his estimates. He said the management raising FY23 revenue growth guidance range from 14-16 per cent to 15-16 per cent and revising its EBIT margin guidance to 21-22 per cent from 21-23 per cent earlier, are indicating better performance for the IT major in the rest of FY23.

“Considering the industry-leading double-digit revenue growth, rising share of digital business (61 per cent of revenue), likely improvement in EBIT margin levels from current levels, declining attrition rate and record-high new TCV, we maintain our BUY recommendation on the stock,” he said.

Infosys reported an 11.10 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,021 crore in September quarter on a 23.4 per cent YoY jump in net sales to Rs 36,538 crore.  Operating margin for the quarter came in at 21.5 per cent against 20.1 per cent in June quarter and 23.6 per cent per cent in the year-ago quarter.

Sharekhan said Infosys raising the lower-end of revenue guidance was a positive surprise, given the volatile macro environment. It said the share buyback of Rs 9,300 crore was on the expected lines, at 30 per cent premium.

“We believe, Infosys’s decent Q2 numbers coupled with management comforting demand commentary and margin sustenance despite supply-side challenges, allay investor fears in this uncertain global environment, further Buyback would support the stock performance in near term amid market volatility. We have a BUY rating on the stock,” it said.

Advertisement

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Gaurav Verma October 14, 2022 October 14, 2022
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Copy Link
Share
Avatar
By Gaurav Verma
Follow:
Founder
Previous Article India’s WPI inflation eases to 10.7% in September
Next Article Apple fined again for chargerless iPhones, ordered to pay $20 million in Brazil

Stay Connected

2.2k Followers Like
727 Followers Follow
25.7k Followers Follow
444 Subscribers Subscribe

Advertisement

Advertisement

Latest News

Advertisement

Advertisement

Follow US
Copyright © 2020-2025 Universal Times Magazine. All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?

Subscribe For Latest Updates

Sign up to best of business news, informed analysis and opinions on what matters to you.

Invalid email address
We promise not to spam you. You can unsubscribe at any time.
Thanks for subscribing!