Investors Lose Rs 53,000 Crore As Infosys Shares Sink Amid Row Over CEO | Read
Infosys shares nosedived nearly 17 per cent on Tuesday in their worst single-day drop in over six years, wiping out investors' wealth worth nearly Rs. 53,000 crore. The dive in Infosys shares came a day after India's second largest IT services company said it had received complaints from anonymous whistleblowers alleging certain unethical practices. While the whistleblowers accused CEO Salil Parekh of leading an effort to shore up profits through irregular accounting, Infosys said one of the complaints dealt largely with allegations relating to his international travel to the US. The allegations come just two years after the IT major endured a shake-up that saw its top boss Vishal Sikka leave the company.
