In today’s briefing:
- Infosys (INFY)’s US$1.1bn Buyback
- RBI Rate Decision
Infosys (INFY)’s US$1.1bn Buyback
- Infosys Ltd (INFO IN) (Infosys Ltd Sp Adr (INFY US)) on 5-6 December announced an on-market buyback of more than US$1.1bn.
- The company has done buybacks before, and it is worthwhile looking at the details.
- The buy-back looks small, and may be impactful near-term in near-space.
RBI Rate Decision
- After a 50 bp hike three times a row, RBI softened and increased the repo rate by 35 basis points to 6.25%.
- Consequently, the standing deposit facility (SDF) rate stands adjusted to 6%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.50%
- The basic facts on the ground have not changed much since the last policy in September-end: global headwinds, inflationary pressures arising from both exogenous and endogenous sources, and adverse terms of trade balanced against an economy exhibiting nascent growth with all the growth engines – industrial, agricultural and service sectors – in early stages of combustion.
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