Explained: Why Infosys shares jumped sharply in early trade

Shares of Infosys were trading over two per cent higher in early trade. Find out why the company's shares jumped sharply despite weak market sentiments due to rising Covid-19 cases.

Shares of major Indian IT firm Infosys hit a fresh high of nearly Rs 1,480 — a 52-week high — after rising 2.7 per cent on the Bombay Stock Exchange in early trade on Monday. The shares of the IT firm rose after it announced that it will consider a proposal for buying back fully paid-up equity shares of the company at its board meeting to be held on April 14, 2021. The company announced the same in a release on the exchanges. “The board of the company will consider a proposal for buyback of fully paid-up equity shares of the company at its meeting to be held on April 14, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018,” the statement said.