Infosys recovers after 4% drop in early trade as CFO Ranganath quits

The stock was trading 2% lower at Rs 1,401, recovered from its early morning low of Rs 1,374 on the BSE.

Shares of Infosys was trading 2% lower at Rs 1,401, after falling 4% in early morning trade on the BSE, after the company’s chief financial officer (CFO), M D Ranganath, has decided to leave the IT major to pursue external opportunities.

Infosys recovered 2.2% from its early morning low of Rs 1,374. In comparison, the S&P BSE Sensex was up 0.75% or 286 points at 38,234. The trading volumes on the counter nearly doubled with a combined 2.57 million equity shares changed hands on the NSE and BSE so far.

In a release on Saturday, Infosys said that