<p>The shareholders of IT major Infosys lost close to Rs 53,000 crore in a single day of trade and company’s shares tanked by 16.2% -- its biggest loss in past six years – over grave allegations of financial impropriety, racism and misogyny by an anonymous whistleblower group.<br /> <br />The share of Infosys opened 10% lower on the Bombay Stock Exchange at Rs 691. The company’s shares closed at Rs 643.30 a piece, down by Rs 24.45 (-16.21%). On Friday, the company’s scrips had closed at Rs 767.75 apiece.</p>.<p><strong>READ: <a href="https://www.deccanherald.com/business/business-news/infosys-hires-law-firm-to-investigate-charges-on-ceo-770168.html" target="_blank">Infosys hires law firm to investigate charges on CEO</a></strong><br /> <br />Infosys, as of date, has 425 crore shares outstanding, which would result in a loss Rs 52,995.9 crore for the shareholders.<br /> <br />The company’s co-founder and chairman Nandan Nilekani and his family, who own 10.04 crore shares in Infosys, lost Rs 1,250.2 crore in the day alone.</p>.<p><strong>READ: <a href="https://www.deccanherald.com/business/business-news/infy-dy-cfos-exit-conveys-something-is-rotten-r-sec-770009.html" target="_blank">Infy Dy CFO's exit conveys something is 'rotten': R-Sec</a></strong><br /> <br />The bloodbath in the company’s shares led to a crash in BSE’s Information Technology Index as well. The BSE-IT crashed by 7.01% (1,083.29 points) to 14,370.31 points.<br /> <br />The American Depository Receipts (ADR) of Infosys also opened 15.4% lower in the New York Stock Exchange (NYSE) at $8.94 apiece, on Monday. The ADRs closed the day’s trading 12.11% lower at $9.29 apiece. In the pre-open trade, the company’s ADR dipped by almost 18%.<br /> <br />An ADR is a negotiable certificate issued by a US depository bank representing a specified number of shares—or as little as one share—investment in a foreign company's stock. The ADR trades on markets in the US as any stock would trade.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/infosys-ceo-parekh-faces-financial-fudging-allegations-769935.html?_ga=2.136215414.635448082.1571731097-1222912591.1569204656%E2%80%8B" target="_blank">Infosys CEO Parekh faces financial fudging allegations</a></strong><br /> <br />In the case of Infosys, one equity share held in India is equivalent to one ADR held on NYSE.</p>
<p>The shareholders of IT major Infosys lost close to Rs 53,000 crore in a single day of trade and company’s shares tanked by 16.2% -- its biggest loss in past six years – over grave allegations of financial impropriety, racism and misogyny by an anonymous whistleblower group.<br /> <br />The share of Infosys opened 10% lower on the Bombay Stock Exchange at Rs 691. The company’s shares closed at Rs 643.30 a piece, down by Rs 24.45 (-16.21%). On Friday, the company’s scrips had closed at Rs 767.75 apiece.</p>.<p><strong>READ: <a href="https://www.deccanherald.com/business/business-news/infosys-hires-law-firm-to-investigate-charges-on-ceo-770168.html" target="_blank">Infosys hires law firm to investigate charges on CEO</a></strong><br /> <br />Infosys, as of date, has 425 crore shares outstanding, which would result in a loss Rs 52,995.9 crore for the shareholders.<br /> <br />The company’s co-founder and chairman Nandan Nilekani and his family, who own 10.04 crore shares in Infosys, lost Rs 1,250.2 crore in the day alone.</p>.<p><strong>READ: <a href="https://www.deccanherald.com/business/business-news/infy-dy-cfos-exit-conveys-something-is-rotten-r-sec-770009.html" target="_blank">Infy Dy CFO's exit conveys something is 'rotten': R-Sec</a></strong><br /> <br />The bloodbath in the company’s shares led to a crash in BSE’s Information Technology Index as well. The BSE-IT crashed by 7.01% (1,083.29 points) to 14,370.31 points.<br /> <br />The American Depository Receipts (ADR) of Infosys also opened 15.4% lower in the New York Stock Exchange (NYSE) at $8.94 apiece, on Monday. The ADRs closed the day’s trading 12.11% lower at $9.29 apiece. In the pre-open trade, the company’s ADR dipped by almost 18%.<br /> <br />An ADR is a negotiable certificate issued by a US depository bank representing a specified number of shares—or as little as one share—investment in a foreign company's stock. The ADR trades on markets in the US as any stock would trade.</p>.<p><strong>ALSO READ: <a href="https://www.deccanherald.com/business/business-news/infosys-ceo-parekh-faces-financial-fudging-allegations-769935.html?_ga=2.136215414.635448082.1571731097-1222912591.1569204656%E2%80%8B" target="_blank">Infosys CEO Parekh faces financial fudging allegations</a></strong><br /> <br />In the case of Infosys, one equity share held in India is equivalent to one ADR held on NYSE.</p>