Shares of Infosys rose 1 percent ahead of its earnings to be announced on Thursday.
The company’s earnings are widely expected to be muted, with the rupee’s depreciation against being the only saving grace for the company in April-June.
However, the market has been abuzz with rumour that Infosys may be announcing a share buyback, – the first by the company.
In April, the country’s IT bellwether had projected a slower growth than the industry’s for the current financial year.
There have been media reports that the company may cut its earnings guidance when it announces the results for April-June.
There have been speculations that the company may make some announcements to prop the stock, which has been beaten down on subdued performance of the company.
Analysts and investors have been complaining that Infosys is sitting on a huge cash pile of over Rs 20,000 crore. They want the company to either make an acquisition or pay off more to shareholders.
