NEW DELHI: After two days of selloff, Infosys shares advanced as much as 2.69 per cent in the early trade on Tuesday. The IT major plunged over 12 per cent during the previous two trading sessions.
The scrip was trading 1.53 per cent up at Rs 886.90 around 9.30 am (IST). Shares of the company opened at Rs 892.50 and touched a high and low of Rs 897 and Rs 880.10, respectively, in trade so far. Benchmark BSE Sensex was up 96 points, or 0.31 per cent, at 31,348.33.
According to reports, top InfosysBSE -0.22 % management and board members are likely to hit the road within the next ten days, to meet institutional investors and soothe their nerves following Vishal Sikka's resignation as CEO of Infosys last Friday after constant public attacks by NR Narayana Murthy and the subsequent kerfuffle between the company’s board and its septuagenarian founder.
Infosys has seen its market cap erode Rs 33,900 crore in just the last two trading sessions.
Two sets of teams have been put in place to reach out to the US and Asian investors, said officials in the know. While R SeshasayeeBSE -1.13 %, the company's chairman and Sikka will be touring the US, a group of senior most CXOs along with co-chairman Ravi Venkatesan will be reaching out to foreign institutional investors in Singapore and Hong Kong, said officials in the know.
Hello, My Name Is Sandip Oli. I am Form Kathmandu, Nepal.
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