Infosys likely to go for a $1.2-1.9 billion buyback

Nomura expects Infosys to announce a buyback in the range of $1.3 billion to $1.9 billion at a maximum price of Rs 1,650, which is equivalent to 1.5-2 per cent of the outstanding equity. Nomura has retained Infosys as its top pick among Tier-1 IT stocks with a buy rating and a target price of Rs 1,620.

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