Infosys stock boosts before board meeting on buyback program

Shares of Infosys ticked higher by almost 1 per cent Wednesday ahead of its board meeting on January 11 to consider a buyback programme and payment of special dividend, among other proposals. The scrip ended 0.90 per cent higher at Rs 675.85 on BSE. During the day, it jumped 2.97 per cent to Rs 689.80. At NSE, shares of the company went up by 0.82 per cent to end at Rs 675.60. In terms of equity volume, 14.01 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

"...the board of the company will consider proposal(s), including but not limited to, buyback of fully paid-up equity shares of the company, payment of special dividend, for implementation of the capital allocation policy at its meeting to be held on January 11, 2019," Infosys said in a BSE filing Tuesday. The Bengaluru-based IT major is also slated to announce its third quarter results on January 11.