Infinite Computer ends 5% higher as board approves buyback proposal

NEW DELHI: Infinite Computer Solutions (India) Ltd closed 4.97 per cent higher at Rs 171.20 after its board approved a share buyback.

"The Board of Directors of Infinite Computer Solutions (India) Ltd at its meeting held on June 23, 2015, have approved the Buy-Back of Company's fully paid up equity shares of Rs. 10/- each from the existing owners of shares from open market through stock exchanges," the company said in a filing with BSE.

The company further added that the buy-back will be at a price not exceeding Rs. 220/- per share payable in cash for an aggregate amount not exceeding Rs. 31 crores.