Infy scrip weathers rumour

Shares of Infosys fell over 3 per cent in intra-day trade today amid reports that its co-founders were planning to sell their entire stake in the company, but later recovered most of the losses after the information technology major denied any such move.

By Our bureau
  • Published 10.06.17
  •  

Mumbai/Bangalore, June 9: Shares of Infosys fell over 3 per cent in intra-day trade today amid reports that its co-founders were planning to sell their entire stake in the company, but later recovered most of the losses after the information technology major denied any such move.

The stock declined 3.47 per cent to Rs 923.05 during the day on the Bombay Stock Exchange (BSE), but later recovered most of the lost ground and ended at Rs 948.65, down 0.80 per cent.

On the National Stock Exchange (NSE), shares of the company fell 0.82 per cent to close at Rs 948.60.

Infosys today denied media reports suggesting that its co-founders were planning to sell their entire stake in the company.

"We would like to clarify reports in media speculating on plans of stake sale by the promoters. This speculation has already been denied categorically by the promoters," the company said.

"The company reiterates that it has no information on any such development," the statement added.