Brokerages downgrade Infosys after Vishal Sikka's exit

Most have re-calibrated their earnings and profit growth forecasts for FY18 and FY19

Infosys has lost over 13% to Rs 885 levels in trade over the last two trading sessions, after Vishal Sikka, resigned from the post of MD & CEO. After slipping around 10% on Friday to Rs 923 levels, Infosys hit a 52-week low of Rs 881 on Monday on the National Stock Exchange (NSE).

On Saturday, the Infosys Board decided to buyback shares up to Rs 13,000 crore, or 4.92% of the paid-up capital of the company, at Rs 1,150 per share.