Reacting to the news of Nandan Nilekani’s appointment as Infosys non-executive chairman, the share price rallied to 4% higher in the early trade hours on Monday. Monday, 28th August 2018 was the first day of trading after Nandan Nilekani was announced to take the job at Infosys.
Previous trade price of Infosys on the stock market was RS 912.15. The stock opened at Rs 942.85 and traded to an upper level of Rs 953.95. At the time of writing this news, the stock was trading 3.80 percent higher at Rs 947 on Nifty.
Infosys share has experienced a huge fall in prices ever since Vishal Sikka resigned from the post of CEO & MD earlier this month. After his resignation, the share touched the lowest mark in last 3 years and market capital was wiped out by a significant amount.
With Nandan Nilekani’s return, things seem a little easy for the Infosys management. The second largest software-services provider company needs to look for restructuring the top order along with building the trust back. The standoff between Narayan Murthy and Vishal Sikka seems to be over as Nandan Nilekani has been one of the co-founders who has worked with Murthy for over a couple of decades. This could eliminate differences in their thoughts, however, the success of this move will only be visible in the time to come.