Infosys co-founders N R Narayana Murthy, Nandan Nilekani, Dinesh K and S D Shibulal’s wife , Kumari Shibulal, along with their families, sold 32.6 million shares in the country’s second-largest information technology services company on Monday, for an overall amount of Rs 6,484 crore.

The share sale led to a sharp plunge in the IT heavyweight’s share price, eroding about Rs 12,400 crore (at 62/$) from the company’s market capitalisation. The Infosys stock hit a month’s low during intra-day trade on Monday, before ending five per cent lower at Rs 1,972 on the National Stock Exchange.

Shares of Infosys have dipped 4% to Rs 1,993 after a huge block deal executed on the counter on the National Stock Exchange (NSE). The stock opened at Rs 2,019 and touched a low of Rs 1,988 on NSE.

A total 32.3 million shares representing 2.8% of total equity of Infosys changed hands in multiple block deals in early morning trade. However, the identity of the buyers and sellers could not be yet ascertained.

Infosys, India’s second largest IT services company, is planning to set up a marketplace where its employees can get access to short-term projects primarily for internal works, which may eventually be opened up for clients.

The proposal, which is in ideation stage, can be perceived as the next step in IT services delivery wherein resources can work on interesting short-term projects and clients may not have to go through the hassles of a sales process.

As Infosys’s new management tries to give greater clarity on its strategy roadmap, most analysts believe that the Bengaluru-based company is moving in the right direction by strengthening in areas which hold promise for the future. In particular, they are of the opinion that the company has made strong inroads into the digital space and some newer technologies such as social, mobility, analytics and cloud (SMAC), which is quite encouraging.

CEO & MD Vishal Sikka, along with his management team, on Thursday outlined some of these capabilities while discussing the new strategy roadmap in an analyst meet at the company’s Pune campus.

Benchmark indices may open marginally higher tracking the gains in their select Asian peers which have gained on expectations of positive US nonfarm payrolls report due later today.

At 8:20AM, the early indicator SGX Nifty was flat at 8,605.

Vishal Sikka, chief executive officer and managing director of Infosys, on Thursday provided a snapshot of initiatives the Bengaluru-based information technology (IT) company had taken to become a next generation services company and regain its bellwether status.

In his first address at the annual Infosys analysts meet, Sikka said while strategy was moving in the right direction, it would be supplemented by an ‘active inorganic strategy’ for technologies expected to disrupt the future of the industry. In October, Infosys unveiled plans to renew core activities and innovative in new areas.

Infosys, India's second largest information technology (IT) services company, on Thursday announced the appointment of John W Etchemendy as an independent member of its board.

Etchemendy is the twelfth and current provost at of Stanford University, which is the alma mater of Infosys' Chief Executive Officer Vishal Sikka.

Markets opened flat but slipped into negative territory weighed down by profit taking in IT majors and index heavyweight ITC.

At 9:35AM, the 30-share Sensex was down 52 points at 28,392 and the 50-share Nifty was down 13 points at 8,512.

Infosys is trading lower by 1.5% at Rs 2,143 in early morning deals on the National Stock Exchange (NSE) after turning ex-bonus today.

The stock opened at Rs 2,165 and hit a low of Rs 2,139 on NSE. A combined 188,234 shares have changed hands on the counter till 0916 hours on BSE and NSE.

Scaling a new peak, the total investor wealth in Indian stock market today hit a record high of Rs 100 trillion, marking a jump of ten times in little over a decade.

Measured in terms of total market capitalisation of all listed companies on the country’s biggest bourse BSE, the overall investor wealth in the Indian stock market rose to Rs 100.01 lakh crore in early morning trade at 1005 hours as benchmark Sensex soared by over 300 points in its continuing record rally.

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