Infosys to Buy Back $2 Billion of Stock After Share Price Slump

Infosys, a leading Indian software services company, has announced a share buyback program worth up to 180 billion Indian rupees (approximately $2 billion). This decision comes in response to the recent decline in the company's stock price. The buyback will allow Infosys to return cash to its investors and support its share price. The program will be executed through the open market purchase of the company's equity shares. The decision to initiate the buyback was made by Infosys' board of directors, who believe it is in the best interest of the company and its shareholders. The buyback is expected to enhance the company's overall financial efficiency and provide liquidity to investors. This move by Infosys is seen as a proactive step to address the recent market volatility and demonstrate the company's confidence in its long-term growth prospects. The buyback is subject to shareholder and regulatory approvals, and the company will provide further details on the program's implementation.