Infosys gains nearly 3% on BSE Sensex after Salil Parekh named new CEO
Shares of the IT major edged higher in early trade on BSE Sensex with news of appointment of a new CEO over the weekend.
)
09:38 AM IST
Key Highlights
- Infosys shares opened 2.76% higher on BSE Sensex.
- They were trading nearly 2% higher on Nifty 50.
- Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board for over a decade.
Indian IT major, Infosys opened higher on key equity indices this Monday morning after it named Salil Parekh the new CEO of the company.
The company’s shares opened 2.76% or 26.50 point higher at Rs 985 apiece on BSE Sensex. Its shares were trading 1.96% or 18.75 points up on Nifty 50.
“We are delighted to have Salil joining as the CEO & MD of Infosys. He has nearly three decades of global experience in the IT services industry. He has a strong track record of executing business turnarounds and managing very successful acquisitions. The Board believes that he is the right person to lead Infosys at this transformative time in our industry. The Board is also grateful to Pravin for his leadership during this period of transition,” said Nandan Nilekani, Chairman of the Board.
Shares of the company were trading 1.83% or 17.50 points higher at Rs 976 per share at 0920 hours on Sensex.
Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. He was with the company for over a decade.
He has Master of Engineering degrees in Computer Science and Mechanical Engineering from Cornell University, and a Bachelor of Technology degree in Aeronautical Engineering from the Indian Institute of Technology, Bombay.
U B Pravin Rao, the interim CEO and Managing Director, will step down effective January 2, 2018, the company said. He will continue as Chief Operating Officer and a whole-time Director of the Company.
You may also want to watch:
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
7 Stocks to buy for long term: Analysts recommend largecap, midcap stocks; Axis Bank, Ambuja Cements on the list
)
Top 5 Largecap Mutual Funds With up to 42% Return in 3 Months: Rs 22,222 SIP investment in top-performing fund has jumped to Rs 70,440
)
Power of Rs 10,00,000 One-time Investment: How your Rs 10 lakh investment can turn into Rs 3 crore, Rs 4.47 crore, and Rs 6.63 crore in 30 years
)
8th Pay Commission Pension Calculations: How your Rs 20,200, Rs 25,250, Rs 34,000, and Rs 44,200 basic pension can be revised at 2.10-2.50 fitment factors (detailed charts)
)
How a 29-KM expressway transformed Gurugram’s real estate; these 4 areas are now hotspots for millionaires
)
8th CPC Salary Calculations: What can be revised basic pay for Grade Pay 1800, 2400, 2800 and 4200 employees at 1.92, 2.08 and 2.28 fitment factors?
)
Power of Rs 13,000 SIP: How many years will it take to generate Rs 9,00,00,000 corpus with just Rs 13,000 monthly investment?
09:38 AM IST