Shares of Infosys on Friday fell as much as 13%, its steepest fall in over four years after the company said its managing director and chief executive officer Vishal Sikka resigned. Infosys chairman R Seshasayee said on Friday that there is no change in the company’s share buyback plan. “We have made commitment on how much and when to return cash to shareholders,” said Seshasayee.
The company lost over Rs24,839 crore in market capitalisation on this news. The stock touched a low of Rs. 884 a share and fell as much as 13%, its steepest fall since 12 April 2013.
Shares of Infosys on Friday fell as much as 13%, its steepest fall in over four years after the company said its managing director and chief executive officer Vishal Sikka resigned. Infosys chairman R Seshasayee said on Friday that there is no change in the company’s share buyback plan. “We have made commitment on how much and when to return cash to shareholders,” said Seshasayee.
The company lost over Rs24,839 crore in market capitalisation on this news. The stock touched a low of Rs. 884 a share and fell as much as 13%, its steepest fall since 12 April 2013.
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