Infosys, the country’s leading IT firm, plans to buy shares worth Rs 13,000 crore. It will be decided at a meeting of the board meeting on August 19.
For the first time in 36 years, the company has been involved in this activity.
In April, the company announced that it would have to withdraw a dividend or equity share of up to Rs 13,000 crore in the current financial year.
In a letter sent to the company’s stock market, the Board of Directors on August 19 said that it would be advised to take stock of the returns.
Infosys has an investment of 350 billion dollars as of June.