Infosys investors lose Rs 53,000 crore in a day as shares tanked 16.21%10:30:00 PM, Tuesday 22nd of October 2019 | in business
Shares of IT services firm Infosys dropped nearly 17%, wiping Rs 53,451 crore from its market valuation. The firm alleged that two top executives of the company were following unethical practices to increase short-term revenue and profits. On National Stock Exchange, it plunged 16.65% to close at Rs 640. Nilekani said Infosys became the worst-hit among the frontline companies on both Sensex and Nifty.