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Infosys shares jump nearly 13 pc as US SEC concludes probe in whistleblower case

Press Trust of India  |  New Delhi 

Shares of Infosys on Tuesday jumped nearly 13 per cent after the company said the US Securities and Exchange Commission (SEC) has concluded the investigation in the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator.

The company's scrip zoomed 12.69 per cent to close at Rs 593.55 on the BSE. During the day, it advanced 14.99 per cent to Rs 605.70.

On the National Stock Exchange (NSE), it climbed 12 per cent to close at Rs 589.80.

It was the top gainer on both the key indices at close of trade.

In terms of traded volume, 6.29 lakh shares were traded on the BSE and over 2 crore shares on the NSE during the day.

The company's market valuation zoomed Rs 28,489.15 crore to Rs 2,52,786.15 crore on the BSE.

In October last year, Infosys had told stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.

US market regulator SEC had also initiated a probe into the matter.

In a regulatory filing on Tuesday, Infosys said it has received a notification from the SEC stating that its investigation has concluded. "The company does not anticipate any further action by the SEC on this matter.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 18:54 IST
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