Infosys shares may slip on Tuesday, say analysts

MUMBAI: Infosys shares might open with heavy losses on Tuesday, after a letter by anonymous employees surfaced, accusing its Chief Executive Officer (CEO) Salil Parekh and Chief Financial Officer (CFO) Nilanjan Roy of unethical practices for several quarters.

The Indian markets were closed on Monday owing to elections in the Maharashtra, but Infosys also listed on the New York Stock Exchange fell over 15 per cent post the surfacing of a whistleblower letter.

“We anticipate an 8 to 10 per cent fall in Infosys shares during the early trade on Tuesday. It may recover later in the day,” Deepak Jasani of HDFC Securities said.