Infosys shares surged over 4% in Thursday’s session after the company announced its largest-ever share buyback. In its exchange filing on October 22, Infosys stated that promoters, including Nandan Nilekani, Sudha Murty, and others, will not participate in the ₹18,000 crore buyback announced earlier this month.
The promoter group includes Sudha N. Murty, wife of co-founder N. R. Narayana Murthy, along with their children Akshata and Rohan Murty. It also comprises co-founder Nandan Nilekani, his wife Rohini Nilekani, and their children Nihar and Janhavi, along with other co-founders and their families.
Infosys stock opened at ₹1,515 on the BSE, reaching an intraday high of ₹1,536.60 and a low of ₹1,506.90 per share. According to Prashanth Tapse, Infosys (CMP ₹1,524) is consolidating near its strong support zone of ₹1,500–1,510, showing renewed buying interest at lower levels. A decisive move above ₹1,540 could push the stock toward ₹1,575–1,620. The RSI is neutral, indicating potential for a breakout if trading volumes rise. He maintains a positive view as long as prices stay above ₹1,500.
