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Infy's $3.5 bn rout a buying opportunity: Franklin Templeton

The company has been the largest buyer of the stock among mutual funds this week

Bhuma Shrivastava | Bloomberg  |  Mumbai 

The acrimonious tussle between the founders and the board of Infosys erased $3.5 billion from the Indian software giant’s market value last Friday. Franklin Templeton Investments says the slump triggered by the chief executive’s exit is an opportunity to buy. “I assume that the CEO vacuum will be temporary and won’t have a detrimental impact on the long-term prospects,’ Allan Lam, Hong Kong-based senior managing director at Franklin Templeton, said in an e-mail. The selloff has created "a good entry point," he said. Franklin Templeton is ...

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First Published: Fri, August 25 2017. 00:27 IST