Daily Archives: Friday August 18th, 2017

52 Week High Breakout (18/08/2017)

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The buyback of IT companies has been for investors, loss deal Infosys shares at one-year low, market capitalization of 22,000 dropped

Recession Chart

Mumbai: Infosys, one of the country’s leading information technology company, has announced a buyback on the one hand due to cash and its Chief Executive Officer Vishal Sikka resigned. On his resignation Friday, the company’s share reached a one-year low of Rs 884, while its market capitalization dropped by Rs 22,000 crore.

Well, as far as the information technology (IT) companies have received buyback offers, the offer is a loss-making deal for the investors. Explain that Infosys had announced buyback on Thursday and its stock closed 4.54% on that day. According to Bloomberg’s report, in January-March, this software service provider had announced that it will return 13,000 crore rupees to the investors through a buyback or dividend or both. Four months later, the company announced this on Thursday.

How much Infosys’ buyback offer will give to investors, it will now be known later, especially when its CEO has resigned. In February, Tata Consultancy Services had announced a buyback of Rs 16,000 crore, which was the biggest buyback. This buyback was declared at a price of Rs. 2850 and now the value of shares is Rs. 2480. That is, the loss of the investors has happened.

HCL also had a buyback of Rs 3,500 crore in the month of May and the stock price was 1,000 rupees at this time, but now it is at 867 rupees. Similarly in July, Wipro had announced a buyback of Rs 11,000 crore, and at that time its stock price was 320 rupees, which is now at Rs 288. In this way, seeing the buyback of these three IT companies, the stock is now trading at the lower level at that level. In the meantime, the market has given good returns.
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