Infosys shares end over 3% higher on Nandan Nilekani’s return
New Delhi: Shares of Infosys Ltd ended with over 3% higher on Monday, adding Rs6,583 crore to its market valuation, continuing with its positive momentum after the company named former chief executive Nandan Nilekani as the new non-executive chairman.
The Infosys stock jumped 3.14% to close at Rs941.15 on the BSE. During the day, it went up 4.49% to Rs953.50. On the NSE, it gained 3.16% to end at Rs941. The company’s market valuation surged Rs6,583.17 crore to Rs216,179.17 crore. In terms of equity volume, 1.422 million shares of the company were traded on the BSE and over 20 million changed hands at the NSE during the day.
“Relief rally on IT major with a scope of stability returning to the management also supported the market,” said Vinod Nair, Head of Research, Geojit Financial Services Ltd.
Stock markets were closed on Friday for Ganesh Chaturthi.
Infosys faced a leadership crisis after first non-founder CEO Vishal Sikka abruptly quit on 18 August. Last week saw the founders staging a dramatic coup, bringing back co-founder Nandan Nilekani as its chairman, replacing R. Seshasayee.