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Infosys Co-Founder S D Shibulal Hikes His Stake, Buys Shares Worth Rs 100 Crore

S D Shibulal’s shareholding in the company increased to 0.07 per cent after the transaction.

S D Shibulal, co-founder of the country’s second largest information technology company, Infosys hiked his stake in the company on Wednesday. Mr Shibulal bought 7,58,755 shares of the company amounting to Rs 100 crore in a block deal transaction from Kumari Shibulal, data from stock exchanges showed. S D Shibulal purchased 7,58,755 shares in a block deal transaction at an average price of Rs 1,317.95 per share, the BSE data showed.

The sale was executed by ICICI Securities Private Limited as the sole broker.

With the deal, Mr Shibulal’s shareholding in the company has increased to 0.07 per cent, a regulatory filing by Infosys said. At the end of March quarter, Mr Shibulal held 0.05 per cent stake in the company. Meanwhile, Kumari Shibulal’s holding in the company stood at 0.19 per cent. Kumari Shibulal owned 81,38,175 shares in Infosys after the transaction.

Last month, Infosys reported an annual increase of 17 per cent in its net profit at Rs 5,076 crore on the back of large contract wins as the COVID-19 pandemic drove digitisation efforts in multiple sectors. The Bengaluru-based company had reported profit of Rs 4,335 crore during the same quarter last year. However, on a sequential basis its profit registered a decline of 2.32 per cent.

Infosys’ revenue from operations rose 12.5 per cent annually to Rs 26,856 crore and on a sequential basis revenue rose 1.2 per cent. In dollar terms, revenues came in at $3,613 million, registering an annual growth of 13 per cent.

Infosys shares ended 0.28 per cent lower at Rs 1,326.95 on Wednesday on the BSE.

syndicated from NDTV

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