May 28, 2013
Infinite Computer Solutions (India) is locked in upper circuit filter of 10% to Rs 90.85 on NSE after announcing the buyback of its own equity shares from the public shareholders.
“The board of directors of the IT consulting and software firm will meet on June 05, 2013, to consider a proposal for buy-back of equity shares,” Infinite Computer Solutions (India) said in a statement.
Currently, the promoters hold 67.47% stake in the company. Individual investors hold 14.86% holding, followed by foreign institutional investors (10.48%), non-resident Indians (4.34%), bodies corporate (1.05%) and while remaining 1.8% stake is with others.
The stock opened at Rs 82 and has seen a combined 222,796 shares changing hands on the counter so far. There are pending buy orders for 18,418 shares on NSE and BSE.