Infosys stock slips 1% after interim CFO appointment

Shares of Infosys Friday slipped by 1 per cent after the IT major appointed Jayesh Sanghrajka as the interim chief financial officer (CFO).

The stock on the BSE settled at Rs 650.45, registering a decline of 0.9 per cent. It had dropped 1.82 per cent to Rs 644.4, its lowest level during the trading hours.

On the NSE, the scrip plunged 0.67 per cent to close at Rs 652. In the intra-day trade, the stock had touched a low of Rs 644.20 and a high of Rs 662.50.

In terms of equity volume, a total of over 93 lakh shares were traded during the day on both exchanges.

Infosys on Thursday named Sanghrajka as the interim CFO.

The appointment was done after his predecessor M D Ranganath surprisingly resigned in August, raising questions over the stability at the country's second largest IT services firm.

The board is in the process of selecting the next CFO and named Sanghrajka as the interim CFO Thursday.

Infosys has seen a number of senior-level exits including Rajesh Krishnamurthy (former President), Sangita Singh (ex-healthcare business head) and former independent director Ravi Venkatesan.