Sunday, Aug 09, 2020 | Last Update : 04:24 AM IST

137th Day Of Lockdown

Maharashtra49026232728117092 Tamil Nadu2850242275754690 Andhra Pradesh2069601204641842 Karnataka164924842322998 Delhi1427231282324082 Uttar Pradesh113378668341981 West Bengal89666630601954 Bihar7179446294400 Gujarat68855517922604 Assam5549737225132 Rajasthan4941835186763 Odisha4255028698292 Haryana4005433444467 Madhya Pradesh3729827621962 Kerala3170019147103 Jammu and Kashmir2392716218449 Punjab2193014040539 Jharkhand165427503154 Chhatisgarh11408831987 Uttarakhand89015731112 Goa7947559570 Telangana751354330615 Tripura6014408437 Puducherry5123291475 Manipur3466192610 Himachal Pradesh3206200813 Nagaland26578247 Arunachal Pradesh204913263 Chandigarh137482023 Meghalaya10234236 Sikkim8544061 Mizoram5672890
  Business   Companies  20 Aug 2018  Infosys shares fall 4 per cent on CFO Ranganath's exit

Infosys shares fall 4 per cent on CFO Ranganath's exit

PTI
Published : Aug 20, 2018, 12:20 pm IST
Updated : Aug 20, 2018, 12:20 pm IST

Shares of the company opened on a weak note at Rs 1,388.70, then fell to Rs 1,373.55.

Similar movement was seen on NSE as well, where the stock opened at Rs 1,388.00, then fell 3.97 per cent to a low of Rs 1,373.50. (Photo: PTI)
 Similar movement was seen on NSE as well, where the stock opened at Rs 1,388.00, then fell 3.97 per cent to a low of Rs 1,373.50. (Photo: PTI)

New Delhi: Shares of Infosys on Monday defied broader market sentiment and fell as much as 4 per cent in morning trade on bourses following the sudden resignation of its Chief Financial Officer MD Ranganath.

On August 18, Ranganath, fondly known as Ranga, who has been working with Infosys for close to two decades, resigned in a surprise move that raises questions about stability at the country's second largest IT services firm. Ranganath, took over the CFO role in 2015 after the exit of Rajiv Bansal.

 

Following the sudden exit, shares of the company opened on a weak note at Rs 1,388.70, then fell to Rs 1,373.55, down 4.03 per cent over its previous closing price. Similar movement was seen on NSE as well, where the stock opened at Rs 1,388.00, then fell 3.97 per cent to a low of Rs 1,373.50.

He is leaving the company to "pursue professional opportunities in new areas" and will continue in his current position till November 16, 2018, Infosys had said in a statement.

The board, which accepted the resignation at its meeting on August 18, said it will immediately commence the search for Ranganath's successor.

"After a successful career spanning 18 years in Infosys, including as CFO for the last three crucial years, I now plan to pursue professional opportunities in new areas," Ranganath said.

 

Tags: infosys, profit, shares, revenue, ranganath
Location: India, Delhi, New Delhi