Home / Market / Stock-market-news /  Infosys shares fall nearly 1% on report of stake sale by founders

Bengaluru: Shares in Infosys Ltd fell as much as 3.5% to their lowest in over a month in the intraday trading on Friday after a newspaper reported the company’s founders were planning to sell their stakes, citing people familiar with the development.

The scrip, however, closed at Rs948.65, down 0.80% from the previous session’s closing on BSE.

Infosys co-founders are exploring a sale of their entire 12.75% stake, worth about Rs28,000 crore ($4.36 billion), in the software services exporter, Times of India reported.

The newspaper, however, quoted Infosys founder N.R. Narayana Murthy denying such a move. Murthy, along with his family, is the largest shareholder in Infosys with a 3.44% stake.

Shares of the software company fell as much as 3.5% to their lowest since 5 May.

Promoters were not immediately reachable. Infosys had no immediate comment. Reuters

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Edit Profile
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout