Shares of Infosys Ltd. are recovering from the lows of the day after another large trade that took place in the stock on Wednesday, March 12.As many as 29.8 lakh shares or another 0.07% of the company’s outstanding equity changed hands in block deal, according to data available on the NSE.
Based on the transaction value and the number of shares, the average price of this transaction is likely to be ₹1,577 per share.
Buyers and sellers in the transaction are not known as yet.The deal comes just a day after Infosys promoter Shruti Shibulal, acquired shares worth ₹494 crore, according to reports on Tuesday. Shruti, the daughter of former Infosys CEO SD Shibulal, is classified as a promoter in the company’s shareholding pattern and has a 0.07% stake at the end of the December quarter.
Based on the transaction value and the number of shares, the average price of this transaction is likely to be ₹1,577 per share.
Buyers and sellers in the transaction are not known as yet.The deal comes just a day after Infosys promoter Shruti Shibulal, acquired shares worth ₹494 crore, according to reports on Tuesday. Shruti, the daughter of former Infosys CEO SD Shibulal, is classified as a promoter in the company’s shareholding pattern and has a 0.07% stake at the end of the December quarter.
Infosys is among the top losers within the Indian IT space on Wednesday after it was downgraded by both Morgan Stanley and Motilal Oswal, both of whom prefer competitor TCS instead.
Shares of Infosys are among the top losers on the Nifty 50 index as well, currently trading over 4% lower at ₹1,591. The stock has lost close to ₹50,000 crore in market capitalisation over the last two trading sessions and is down 21% so far over the last three months.
