Infosys shares plunged nearly 8 per cent on Thursday, eroding over Rs.14,000 crore from its market valuation, after the company’s board member and President B. G. Srinivas, considered as the top contenders for the first non-founder CEO post, resigned.
The IT bellwether’s scrip declined by 7.81 per cent to settle at Rs.2,924.30 on the BSE. In intra-day session, it had lost 8.1 per cent to Rs.2,915.
At the NSE, the stock tumbled 3.43 per cent to close at Rs.2,921.30.
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Infosys ended below the crucial Rs.3,000-mark for the first time since mid-September, 2013. The stock was the top loser among the blue-chips on both Sensex and Nifty.
The stock also turned ex-dividend on Thursday for final dividend of Rs.43 a share for the year ended March 31.