Infosys jumps nearly 5% on Parekh's appointment as MD & CEO

BL Internet Desk Chennai | Updated on January 09, 2018 Published on December 04, 2017

Infosys shares surged as much as 4.7 per cent on Monday as the board of directors has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the company effective January 2, 2018.

Following a positive open at Rs 983 against the previous close of Rs 958.50, the scrip touched an intraday high of Rs 996.95 and a low of Rs 969.95. In terms of equity volume, 4.05 lakh shares were traded on the BSE.

The company shares ended higher by 2.8 per cent at Rs 985.30 on the BSE. On the NSE, the stock closed up by 2.67 per cent at Rs 984.40.

A member of the Group Executive Board of the Euro 12.54 billion French consultancy major, Capgemini, Parekh was never seen as a front-runner for one of the most coveted jobs in the Indian technology space. But his track record shows that Infosys couldn’t have picked a more suitable person to head the organisation.

Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. 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.

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Published on December 04, 2017
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