Infosys recovers lost ground; rises over 1 pc

Shares of Infosys on Wednesday bounced back, rising over 1 per cent, after a massive sell-off in the previous session on concerns over a whistleblower complaint against the company’s top executives.

The scrip closed the day at Rs 650.75, up 1.16 per cent on the BSE. During the day, it jumped 2 per cent to Rs 656.40.

On the National Stock Exchange, it rose 1 per cent to close at Rs 650.35.

Shares of Infosys on Tuesday plummeted nearly 17 per cent, marking their worst intraday fall since April 2013, wiping Rs 53,451 crore off its market valuation.

A complaint by a group that calls itself ‘Ethical Employees’ of Infosys has alleged CEO Salil Parekh and CFO Nilanjan Roy were indulging in “unethical practices” to boost short-term revenue and profits.