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Infosys recovers lost ground; rises over 1 pc

Shares of Infosys on Tuesday plummeted nearly 17 per cent marking their worst intraday fall in over six years, wiping Rs 53,451 crore from its market valuation.

Edited by: PTI New Delhi Updated on: October 23, 2019 12:05 IST
Infosys recovers lost ground; rises over 1 pc
Image Source : PTI

Infosys recovers lost ground; rises over 1 pc

 Shares of Infosys on Wednesday bounced back, rising over 1 per cent, after a massive selloff in the previous session on concerns over a whistleblower complaint against the company's top executives.

The scrip gained 1.28 per cent to Rs 651.55 on the BSE. On the NSE, it rose by 1.26 per cent to Rs 651.70.

Shares of Infosys on Tuesday plummeted nearly 17 per cent marking their worst intraday fall in over six years, wiping Rs 53,451 crore from its market valuation.

A complaint by a group that calls itself "ethical employees" of Infosys has alleged CEO Salil Parekh and CFO Nilanjan Roy were indulging in "unethical practices" to boost short-term revenue and profits.

The IT services giant on Tuesday said it is investigating the anonymous whistleblowers' claims.

ALSO READ: Infosys techie jumps to death from highrise apartment in Hyderabad

ALSO READ: States beat Centre in ensuring GST returns compliance

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