Indian IT companies are expected to face only limited disruption following the US announcement of a $100,000 one time fee on new H-1B visa applications, according to market expert Anil Singhvi, managing editor of Zee Business. Singhvi suggested that the move is more “signal than shock” for the sector, with only mild implications for business sentiment…
Infosys’s board has approved a share buyback proposal to the tune of Rs 18,000 crore. The buyback — approved at Rs 1,800 per share — will be at a premium of 19.2 per cent over the current market price and comprise 2.41 per cent of the IT major’s equity. | Image: infosys.com Source link
The board of Infosys is scheduled to meet on September 11 to discuss the buyback proposals. Meanwhile, Hong Kong-based brokerage firm CLSA believes it can trigger buyback talks at Tata Consultancy Services (TCS) too. TCS shares are currently trading at Rs 3,114 at noon. The brokerage maintained an ‘Outperform rating’ on TCS with a target…
The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,06,250.95 crore last week, with Bajaj Finance and Reliance Industries emerging as the biggest gainers, in line with an optimistic trend in equities. Last week, the BSE benchmark jumped 901.11 points, or 1.12 per cent, and the Nifty climbed 314.15 points,…
The National Stock Exchange (NSE) has revised the quantity freeze limit for Bank Nifty derivatives contracts, increasing it from 600 to 900, effective September 1. According to the updated framework, freeze limits for other key indices—Nifty (1,800), Finnifty (1,800), Nifty Midcap Select (2,800), and Nifty Next 50 (600)—remain unchanged. NSE has advised its members to…
Infosys, the country’s second largest IT firm, has bagged a seven-year deal worth Rs 6,000 crore for GSTN infrastructure. The GSTN board has approved the IT major’s proposal. Infosys shares closed lower by Rs 30.6, or 2.0 per cent, at Rs 1,469.5 apiece on BSE after the announcement. Add Zee Business as a Preferred Source…