The scrip of Infosys continued to
reel under pressure for the second consecutive session today,
falling 4.5 per cent, despite the company's share buyback
Even after a positive opening, the stock failed to hold
on the momentum and later slipped 4.39 per cent to hit its
one-year low of Rs 882.55 on BSE.
On NSE, shares of the company went down by 4.55 per cent
to Rs 881.15 -- its 52-week low.
The stock was the biggest loser among the blue chips on
both the key indices during the morning trade.
Vishal Sikka's surprise resignation as Infosys CEO threw
the stock off-track as it had plummeted nearly 10 per cent in
Friday's trade also.
The company's board on Saturday approved the share
buyback plan of up to Rs 13,000 crore to reward shareholders.
The buyback price of Rs 1,150 per share was nearly 25 per
cent higher than Friday's closing of Rs 923.10 apiece.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)