Infosys erodes over $6 billion in market cap on whistleblower complaint

Mumbai: Infosys Ltd on Tuesday saw its market capitalistion erode by over $6 billion or ₹43,925 crore after a whistleblower complaint accused the company’s chief executive officer and chief financial officer of unethical accounting practices.

The stock slumped 16%, marking its biggest single-day fall since 12 April, 2013, and touched a low of ₹645 — a level last seen on 26 December, 2018.

The complaint, dated 20 September, follows more such complaints that led to the exit of previous CEO Vishal Sikka.