Infosys sets November 14 as record date for share buyback worth Rs 18,000 crore

Infosys, India’s second largest IT services company, has set November 14 as a record date for share buyback worth Rs 18,000 crore. The buyback proposal was approved by shareholders with an overwhelming majority of 98.81%.This is the company’s second proposal since 2022 and the largest in its history. The board had approved the proposal on September 11. Before that, Infosys had conducted a buyback of Rs 9,300 crore in 2022.

The buyback includes 10 crore shares at Rs 1,800 each, accounting for 2.41% of the company’s paid-up share capital.The announcement was made after market hours today and Infosys shares ended marginally lower at Rs 1,466.50.

Since the buyback announcement, Infosys shares have fallen almost 3%. The closing price on September 11 was Rs 1,512.20.

The stock has seen a decline of 16% in the last twelve months, not only underperforming the sector but also underperforming the benchmarks Nifty and Sensex. The Nifty IT index has fallen 12% in a period of one year, while the benchmarks have returned almost 5% in the same period. The software exporter reported 13% year-on-year (year-on-year) growth in its net profit at Rs 7,364 crore for the second quarter of FY26. Operating revenue rose 9% to Rs 44,490 crore.

The IT company has revised up the lower end of its FY26 revenue guidance to 2-3%, from 1-3% previously. Meanwhile, the margin estimate for the year was maintained at 20-22%.

For the September quarter, revenues in constant currency terms increased 2.9% year over year and 2.2% quarter over quarter. Operating margins, on the other hand, declined 10 basis points year-over-year to 21%.

Second quarter gross profit improved 9% year-on-year to Rs 13,690 crore.

The company posted $3.1 billion in deal profits, 67% of which were net new in the second quarter.