|Bid||14.78 x 19800|
|Ask||14.79 x 9800|
|Day's Range||14.46 - 14.86|
|52 Week Range||13.42 - 16.71|
|PE Ratio (TTM)||15.83|
|Dividend & Yield||0.46 (3.16%)|
|1y Target Est||N/A|
A group of 12 major institutional investors in Infosys Ltd (INFY.NS) has asked the Indian IT services company to bring former CEO Nandan Nilekani back on to its board to try to resolve a feud with the company's founders. The Infosys board has been locked in a public dispute since February with the founders, led by former chair Narayana Murthy, who have accused the directors of governance lapses. The differences prompted its Chief Executive Vishal Sikka to resign on Friday, sparking a sell-off that has wiped over $4.5 billion from Infosys' market capitalization over the last four trading sessions.
Infosys needs to find a suitable replacement who can continue with the turnaround of the company that departing CEO Vishal Sikka started.
India and INFY) are down 2.3% today even after the company said it would repurchase nearly 5% of shares. The company attempted to shore up the stock with a share buyback plan after CEO Vishal Sikka resigned last week, but investors seem more fixated on news that divisive Infosys co-founder Narayana Murthy will speak to shareholders Wednesday. Infosys paid a $1 million New York legal settlement in June, without admitting fault, on allegations that it failed to adequately compensate hundreds of workers, avoided taxes and broke U.S. visa rules.