Vishal Sikka's resignation News

Nilekani has been called in to steer Infosys after chairman R Seshasayee and three other directors quit, meeting the key demand of founder group led by N R Narayana Murthy.

Nandan Nilekani, who was named Infosys Non-executive Chairman last night, today said that he will be able to offer more details of the strategy in October and is focussed on bringing "complete stability".  

HPE is an American multinational enterprise information technology company based in Palo Alto, California, founded on 1 November 2015 as part of splitting of the Hewlett-Packard company.  

Nandan Nilekani, credited for driving up Infosys` annual revenue four-fold to USD 2 billion during his 2002-2007 tenure as CEO, will take over as the non-executive chairman and as a non-independent director with immediate effect, India`s No. 2 IT services firm said in a statement.

Here's a look at Nandan Nilekani's profile.

Nilekani was one of the seven founders that set up Infosys more than three decades ago and served as its CEO between March 2002 to April 2007.

On NSE, shares of the company went down by 4.55 percent to Rs 881.15 -- its 52-week low.

Led by the sharp plunge, the company's market valuation slumped Rs 22,518.98 crore to Rs 2,12,033.02 crore.

For the week, both Sensex and Nifty recorded a gain of 311.09 points, or 0.99 percent, and 126.60 points, or 1.30 percent, respectively.

On NSE, Infosys stock hit 52-week low of 884.20 during intra-day trade Friday.