Stocks

Infosys surges as market fails to heed rumours

BL Internet Desk | Updated on October 31, 2019

Software major Infosys shares jumped nearly 5 per cent today on the bourses even as market players neglected the negative rumours floating around the stock. There was a rumour of an insider taking large positions in put options at the strike price of ₹740, before the whistleblower complaint, which termed to be baseless.

At 11.55 am, Infosys stock gained 4.65% to Rs 691.20 on volumes of 1.19 crore on the NSE

ICICI Securities in its report had said there has been no perceivable inconsistency in the key data points shared by Infosys.

BusinessLine reported recently most analysts are suggesting that the whistleblower group’s allegations against the top management are also indicative of troubles elsewhere, particularly on the people/talent management front.

 

Published on October 31, 2019

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