Infosys shares tank; Nandan Nilekani says CEO Salil Parekh to be recused from probe

The Infosys stock on Tuesday bore the brunt of a whistleblower group’s allegations, which have rocked the company. The IT major’s shares tanked nearly 17 per cent, recording their worst single-day drop in six years, and wiping out nearly ₹53,000 crore in investors’ wealth.

The scrip tanked 16.21 per cent on the BSE. During the day, it tumbled 16.86 per cent to ₹638.30, the steepest fall since April 2013.

A whistleblower group has claimed in an email to the US Securities and Exchange Commission (SEC), and to the Infosys board, that the company’s CEO was indulging in unethical practices.