Infosys share price today: Infosys shares edged higher after falling more than 4% in early dealsInfosys shares rose more than 1 per cent on Wednesday, a day after a plunge in the stock amidwhistleblower complaints that its top two executives engaged in unethical practices wiped out nearly Rs 53,000 crore of investor wealth.
Infosys shares rose as much as1.45 per cent to Rs 652.60 apiece on the BSE in morning, from their previous close of Rs 643.30.
On the National Stock Exchange (NSE), the Infosys stock climbed1.27 per cent to touch Rs 651.70 on the upside.At 10:28 am, Infosys shares traded up 1.27 per cent at Rs651.50 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.42 per cent at39,125.89.The shares opened Rs 6 lower at Rs637.30 on Wednesday and fell as much as 4.40 per cent to Rs 615.00 apiece on the BSE, before recovering the day's losses.Analysts say the weakness in Infosys shares may be temporary however any further losses will make the stock more attractive.Another 5-10 per cent fall in Infosys shares will be a good buying opportunity, IDBI Capital head of research AK Prabhakar told TheIndianSubcontinent.Overnight in the US,Infosys American Depositary shares fell 3.01 per cent to end at $9.01 - after registering their worst fall since 2013 in Monday's session.On Tuesday, Infosys shares on the Bombay Stock Exchange had ended16.21 per cent lower at Rs 643.30 to log their worst single-day drop in over six years.
That pulled the market capitalisation or MCap of India's second largest IT services company to Rs 2.74 lakh crore, from Rs.3.27 lakh crore on Friday.Tuesday's sharp losses in the Infosys stock came after the company said it hadreceived complaints from anonymous whistleblowers alleging certain unethical practices.
The whistleblowers accused CEO Salil Parekh of leading an effort to shore up profits through irregular accounting, and the company said one of the complaints dealt largely with allegations relating to his international travel to the US.Follow TheIndianSubcontinent for latest election news and live coverage of assembly elections 2019 in Maharashtra and Haryana.Subscribe to our YouTubechannel, like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.