Infosys rattles the market, loses around Rs 31,000 crores in M-Cap

By attracting a total traded volume of 2,36,60,922 shares and total traded value of Rs 2,124.63 crores, the stock of Infosys was literally on its feet all the time during Monday’s trading hours. It touched a fresh 52-week low of Rs 881.15 per share, down by Rs 42.1 per share or 4.55%. The stock has lost around 14% in the past two trading sessions.
 
The market capitalisation of Infosys stood at Rs 2,34,554 crores as of August 17, 2017. As of the stock’s 52-week low on Monday, the market capitalisation declined to Rs 2,02,718 crore, down by Rs 31,836 crores in just two trading sessions. The company had approved a buyback proposal at Rs 1,150 per share for an amount not exceeding Rs 13,000 crores. The stock has a face value of Rs 5 per share. The record date for the buyback will be announced later. 
 
The buyback offer size is 20.51% of the total paid-up equity capital and free reserves of the company as per the latest audited balance-sheet as on June 30, 2017. The buyback offer will comprise a purchase of up to 1,13,043,478 equity shares aggregating up to 4.92% of the paid-up equity share capital of the company.