Harit Shah, analyst, Reliance Securities, said while the pricing was attractive, the benefit for retail investors would not be substantial if promoters tender their shares in huge lots. If they (promoters) participate then obviously acceptance ratio (for the retail shareholders) will be lower and the gains of retail shareholder would be slight, not substantial," he said. Balakrishnan expects Infosys Board to give in to peer pressure from Wirpo, Cognizant and TCS and announce a buyback proposal soon. TCS is the third Indian tech services company to have approved a buyback proposal. In his view, Infosys should look at sustained buyback every year instead of a one-time offer to repurchase equity shares.

Source: dna February 21, 2017 01:30 UTC