Infosys tanks as Vishal Sikka quits as MD & CEO. Should you sell the stock?

Sikka's resignation sent the stock plummeting - down 13% in intra-day deals on the BSE to Rs 884

At a time when investors were expecting Infosys to spell out the detailed terms of its proposed buyback programme on Saturday, Vishal Sikka resigned as the managing director and chief executive of the company. Earlier in 2017, Infosys had unveiled plans to reward its shareholders by way of a buyback and dividend payout totalling Rs 13,000 crore.
 

Sikka’s resignation sent the stock plummeting – down over 13 per cent in intra-day deals on the Bombay Stock Exchange (BSE) to Rs 884 levels. It, however, settled 9.6 per cent lower at Rs 923. By comparison, the S&P BSE Sensex slipped nearly