The stock of Infosys (NSE symbol: INFY) seemed likerewarding investors in the early trading session on Monday, April 12, 2021.
The shares of Infosys touched Rs 1480, a 52-week high.
Fundamental analysis-wise the rise is attributed to the company’sannouncement on April 11 that on April 14, the management will sit together anddecide on buyback of the shares.
Also read: It is not easy to be a woman in India?
Though, around 11:47am, the stock of the company fell by19.35 which is 1.34%.
When the whole market was falling down, shares of Infosysstill kept their pace up.
Around 11:45 am Sensex was down 1507.68 points which is 3%to trade at 48,083.64. Nifty was down 453.85 points which is 3% to trade at 14,381.
It has been observed that whenever a company announces abuyback, the shares of the company rise in the markets in anticipation of thesame.