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Infosys co-founder SD Shibulal buys company's shares for fifth time in May

Shibulal bought more than 6.67 lakh Infosys shares on Monday at an average price of Rs 1,391 per share, valuing the deal at Rs 92.9 crore

This is for the fifth time in May when Shibulal has bought shares of the IT major through an open market deal. This is for the fifth time in May when Shibulal has bought shares of the IT major through an open market deal.

SD Shibulal, co-founder of IT major Infosys, on Monday bought shares worth Rs 93 crore of the Bengaluru-based IT firm through an open market transaction. This is for the fifth time in May when Shibulal has bought shares of the IT major through an open market deal.

Prior to this, he purchased shares worth Rs 100 crore on in each of the four deals in May. His wife and firm's promoter Kumari Shibulal sold the shares on all occasions.

According to block deal data on BSE, Shibulal bought more than 6.67 lakh shares on Monday at an average price of Rs 1,391 per share, valuing the deal at Rs 92.9 crore. Kumari sold 6.67 lakh shares at the same price of Rs 1,391 per scrip in a different transaction.

On May 27, Shibulal bought more than 7.22 lakh shares at an average price of Rs 1,384 per share, according to BSE block deal data. As per a separate transaction, Shibulal's wife Kumari offloaded over 7.22 lakh shares at the same price of Rs 1,384 apiece.

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Shibulal and Kumari are the promoters of the IT major. They held 0.05 per cent stake and 0.21 per cent stake in the company, respectively at the end of March 2021 quarter.

So far in May, Shibulal had bought the IT stock worth Rs 100 crore on May 12, Rs 100 crore on May 19, and Rs 100 crore on May 24 through open market transactions. Kumari Shibulal sold the shares on all occasions.

Infosys share was trading flat in afternoon session today.  At 12: 28 pm, the share lost 0.71% to Rs 1,383. The stock has lost 1.66% in the last 2 days. The stock trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages. The share has gained 97.92% in one year and risen 10.13% since the beginning of this year,

Market cap of the IT firm fell to Rs 5.91 lakh crore on BSE.

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