Infosys gets into the winning zone with hike of over 3.5%
DSIJ Intelligence / 28 Aug 2017
In the wake of the company appointing Nandan Nilekani as its non-executive chairman, as of today morning, Infosys has opened with gains of around 3.48% at Rs 943.95 per share on the NSE.
In the wake of the company appointing Nandan Nilekani as its non-executive chairman, as of today morning, Infosys has opened with gains of around 3.48% at Rs 943.95 per share on the NSE. While Nilekani has come on board, Co-Chairman R Seshasayee, Executive Vice-Chairman Vishal Sikka as well as Jeffrey Lehman and John Etchemendy have resigned from the board.
The stock witnessed traded volume of 36,30,452 with trading value of Rs 343.4 crore as of 0918 hours. The stock witnessed 62% deliverable quantity to traded quantity in the previous trading session.
CLSA has upgraded the stock to ‘Buy’ from ‘Underperform’ and hiked the target price to Rs 1,070 from Rs 940. Nomura has maintained ‘Reduce’ on the stock with target price of Rs 875.
Meanwhile, Nifty was trading at 9,897, up by 40 points, while Sensex was trading at 31,716, up by 120 points. There were 922 advances, 409 declines and 492 unchanged stocks on the NSE, reflecting positive sentiments in the market.
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