Infosys shares shrug off Sikka blues, rallied 16% in last 3 months

While Rs 13,000-crore buyback has provided some impetus to the stock, brokerages believe competitive edge over other peers is the main driver behind the rally

Infosys has emerged unscathed from the untimely exit of high-profile chief executive officer (CEO) Vishal Sikka, if stock price performance is anything to go by. After dropping close to 15 per cent due to uncertainty created by Sikka's exit, the stock has recovered most of the lost ground.

Shares of Infosys shares have gained nearly 16 per cent since August 21 (first trading day after Sikka announced his resignation). In comparison, the benchmark Nifty has gained seven per cent and other technology stocks including Tata Consultancy Services (TCS), Wipro and HCL Tech have remained flat during the same period.

While the Rs