Infy promoter wealth up by Rs 2,080 crore in 3 days

Last Updated 17 January 2018, 16:17 IST

The wealth of Infosys promoters has jumped by Rs 2,080 crore in the last three days, as the stock prices of the company breached the buyback rate fixed by the company earlier.

The company's stock has been on bull run after the company announced over 38% jump in net profits for the third quarter.

In the recently concluded buyback process worth Rs 13,000 crore, the company had set the the price at Rs 1,150 per scrip, while stocks on Wednesday closed at Rs 1,152.25 per scrip.

The company stocks have rallied on three continuous days -- since, after the results were announced post-trading hours on Friday last week. IT behemoth's scrips were up Rs 73.9 (6.8%) in three trading sessions.

While the total market capitalisation of the company has gone up by Rs 16,128.5 crore in just three days this week, 12.9% of this uptick has benefited its promoter group.

The company's m-cap has shot from Rs 2,35,517 crore to Rs 2,51,646 crore on the Wednesday.

The value of the stake held by the company's Chairman Nandan Nilekani and his family members, has gone up by Rs 451.8 crore, out of which Nilekani alone has seen a  rise of Rs 151 crore.

On the other hand, co-founder N R Narayana Murthy, who had launched scathing attack on the former board and management last year, saw the the whopping jump of Rs 557.44 crore in the fortune of his family.  

Murthy's son, Rohan Murty has been the second largest individual beneficiary of the rally, with a jump of Rs 224.6 crore in his personal fortunes.

Wife of former CEO and co-founder Kris Gopalakrishnan, Sudha Gopalakrishnan, who holds the highest number of shares in the company (4,76,78,500) among the promoter group has seen the highest jump in the individual fortunes. Sudha's fortune in the company jumped by Rs 352.1 crore in two days.

Tech stocks had seen an upward trend in December, as according to an analyst, they had underperformed for quite sometime and were seen by investors as defensive stocks, in case of imminent profit booking.

Earlier last year, after company's former Chief Executive Officer and Managing Director, Vishal Sikka had resigned, the IT major had lost Rs 33,915 crore market-cap in two trading sessions.

It was only after the news of Nilekani brokering peace broke out, the company's stock slide was contained.

(Published 17 January 2018, 15:34 IST)

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