Diabytes
Infosys stock News
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Shares of Infosys today rose by over 2 per cent ahead of its June quarter results.
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Shares of the company today opened on a weak note and fell to an intra-day low of Rs 1,099, down 5.98 percent from its previous closing price.
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Infosys shares rose as much as 4 percent after the IT services company on Saturday named Salil Parekh as its new chief executive, handing him the twin challenges of reviving growth and forging peace between its founders and board following a public spat.
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The IT major had slipped out of the list yesterday amid extreme weakness in the stock following the sudden exit of its CEO Vishal Sikka.
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As many as 12 fund managers, representing institutional investors in Infosys, have suggested bringing co-founder and former CEO Nandan Nilekani back on the board of the IT major to restore confidence of stakeholders and help resolve the crisis.
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As a leadership crisis continues at Infosys, an investor advisory firm today said the IT firm's founders have not always been in sync with each other and N R Narayana Murthy's public criticism of the management may not necessarily represent that of the entire promoter group.
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Infosys founder N R Narayana Murthy has postponed his conference call scheduled with investors on Wednesday to August 29.
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Nandan Nilekani, one of the most high-profile founders of Infosys, is most likely to make a comeback to the IT firm post sudden exit of its CEO and MD Vishal Sikka.
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Embattled Infosys' third largest institutional investor OppenheimerFunds has said its views on the company have not been "materially" impacted by CEO Vishal Sikka quitting.
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Infosys is no longer on the list of top 10 most valued companies on the BSE and the NSE as the stock has taken a beating following the abrupt exit of its CEO Vishal Sikka.
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Securities and Exchange Board of India (Sebi) is keeping a track on the stock price movement of information technology major Infosys.
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The stock slumped 5.37 per cent to close at Rs 873.50 on BSE. During the day, it slipped 5.75 per cent to Rs 870 -- its 52-week low.
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On NSE, Infosys stock hit 52-week low of 884.20 during intra-day trade Friday.
Shares of IT major Infosys on Friday fell by over 5 percent after the company slashed its revenue guidance for the second time this year due to its recent performance and "near-term uncertain business outlook".
Four of the original founders, co-founders and their families are offering 32.6 million shares in Infosys at a fixed price of 1,988 rupees ($32) each.
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