Infosys hits five-month low; stock down 10% in one month

In past two days, the stock was down 4% after the company on Saturday informed to the stock exchanges that Mohit Joshi, President of the company resigned effective from March 11, 2023.

Shares of Infosys hit a five-month low of Rs 1,419.60, down 1 per cent on the BSE in Tuesday’s intra-day trade. The stock was quoting at its lowest level since October 10, 2022.

In past two days, the stock of information technology (IT) bellwether was down 4 per cent after the company on Saturday informed to the stock exchanges that Mohit Joshi, President of the company has resigned effective March 11, 2023.

Mohit Joshi will be on leave thereafter and his last date for the company would be June 9, 2023, Infosys said in an exchange filing.