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Business News » Companies News

Vishal Sikka's resignation wipes off over Rs 22,500 crore from Infosys' market cap

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Vishal Sikka's resignation wipes off over Rs 22,500 crore from Infosys' market cap
Infosys CEO Vishal Sikka during a press conference to announce 1st quarter financial result at Infosys headquarters in Bengaluru. Photo: IANS
Written By: ZeeBiz WebTeam
Updated: Fri, Aug 18, 2017
04:11 pm
Mumbai , ZeeBiz WebDesk
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Friday turned out be a dramatic day for Infosys Vishal Sikka resigned from his post of MD and CEO with immediate effect.

This was not taken well by investors. Share price of Infosys touched a four-year low of Rs 884.40 per piece – a level which was last seen on August 21, 2014.

The stock price of Infosys fell 9.60% ending the day at Rs 923.10 per piece on Friday. With this, the company lost over Rs 22,500 crore from its market cap in a single day. 

Market cap of Infosys at the end of Friday August 18, 2017 stood at Rs 2,12,124.90 crore as against previous day's close of of Rs 2,34,552.50 crore.

Infosys dragged the broader markets too with it as BSE Sensex lost 0.85% to close at 31, 524.68 points on Friday. Vinod Nair, Head of Research, Geojit Financial Services Ltd said, "Market slid due to unprecedented exit of Infosys CEO which put investors and stakeholders in the doldrums. On the global front, investors were jittery on account of a terrorist attack in Europe which also dampened the sentiment."

ALSO READ:
  • Vishal Sikka resigns from Infosys: Full text of his letter to the Board
  • No change in share buyback plan after Sikka's resignation, Infosys says
  • Vishal Sikka's three year stint at Infosys comes to an end; A snapshot of company's performance in this time

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TAGS:
Vishal SikkaInfosysInfosys market capInfosys share priceVishal Sikka resignsTCS Share PriceWipro share priceHCL Tech share priceSensexNiftyMarketsITTata Consultancy ServicesWiproHCL Technologies
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Vishal Sikka's Panaya deal dents Infosys profit in 1HFY19 by $39 mn; all details inside Vishal Sikka's Panaya deal dents Infosys profit in 1HFY19 by $39 mn; all details inside
This Vishal Sikka deal is a burden for Infosys; here's how This Vishal Sikka deal is a burden for Infosys; here's how
What kind of pay hikes did Infosys employees get in April? Attrition soars What kind of pay hikes did Infosys employees get in April? Attrition soars
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