The Hindustan Express
Buisness

The unexpected departure of CFO Nilanjan Roy caused Infosys’s stock to plunge overnight

Share

<p>The top IT business’s stockholders were alarmed when Infosys’s shares fell sharply overnight after internal management changes at Narayana Murthy’s company. Despite last week’s increase in the Nifty and Sensex, the equities underperformed.</p>
<p><img decoding=”async” class=”alignnone wp-image-303781″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-750×422.jpg” alt=”theindiaprint.com the unexpected departure of cfo nilanjan roy caused infosyss stock to plunge overn” width=”1004″ height=”565″ title=”The unexpected departure of CFO Nilanjan Roy caused Infosys's stock to plunge overnight 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-1024×576.jpg 1024w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn-150×84.jpg 150w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-the-unexpected-departure-of-cfo-nilanjan-roy-caused-infosyss-stock-to-plunge-overn.jpg 1200w” sizes=”(max-width: 1004px) 100vw, 1004px” /></p>
<p>After Nilanjan Roy, the company’s chief financial officer, resigned from his position, citing a desire to concentrate on personal goals, Infosys shares started 1% lower than they had the day before.</p>
<p>Roy’s departure caused a large decline in Infosys shares, and IT businesses are still suffering as a result of recent changes in the top brass. The CFO’s departure was soon publicized, and Infosys’ stock fell 3% overnight.</p>
<p>On December 12, the markets opened with Infosys’ shares trading at ₹1,478.90 each. At 1 pm, the shares continued to decline, closing at ₹1,473.90 each. After Roy left, the company promised all of the stockholders that the transition would go well.</p>
<p>The abrupt shift in senior management of one of India’s most valuable corporations might have a significant effect on the feelings of shareholders, according to brokerage company Morgan Stanley.</p>
<p>In the meanwhile, a lot of investors see the share decline as a chance to purchase stocks. Historical patterns suggest that a quick recovery in share prices is expected. Given that the Sensex exceeded the 70,000 point threshold on December 11 mostly as a result of an increase in the share prices of IT businesses, the decline in Infosys’ shares was unexpected.</p>
<p>The Sensex surpasses 70,000 points.<br />
On December 11, the BSE Sensex broke 70,000 points, making stock market history. The index has reached 70,000 for the first time, and companies like ITC, Mahindra & Mahindra, and Larson and Toubro are mostly to blame for the increases.</p>
<p>With an aggregate revenue of more than ₹1.49 lakh crore, Infosys is regarded as the sixth most valuable corporation in India.</p>


Share

Related posts

Mark Cuban regrets turning down a 2009 offer to invest $250,000 in Uber, which is now worth $2.3 billion

cradmin

India and the UAE Plan to Trade $100 Billion in Non-Oil by 2030

cradmin

Meet the guy who, after being AWOL for months, is suddenly launching a new firm and is wealthier than Mukesh Ambani, Adani, and Ratan Tata

cradmin