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Infosys Share Price Recovers Early Losses, Rises Over 2%

Infosys Share Price Recovers Early Losses, Rises Over 2%

Infosys share price today: Infosys shares edged higher after falling more than 4% in early deals

 

Infosys shares rose nearly 2 per cent on Wednesday, a day after a plunge in the stock wiped out nearly Rs. 53,000 crore of investor wealth amid whistleblower complaints that its top two executives engaged in unethical practices. Infosys shares rose as much as 1.87 per cent to Rs. 655.35 apiece on the BSE in morning, from their previous close of Rs. 643.30. On the National Stock Exchange (NSE), the Infosys stock climbed 1.85 per cent to touch Rs. 655.45 on the upside. (Also read: Infosys raises revenue guidance, Q2 profit rises 6%)

At 11:51 am, Infosys shares traded up 1.17 per cent at Rs. 650.85 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.42 per cent at 39,125.65.

The shares opened Rs. 6 lower at Rs. 637.30 on Wednesday and fell as much as 4.40 per cent to Rs. 615.00 apiece on the BSE, before recovering the day’s losses.

Analysts say the weakness in Infosys shares may be temporary however any further losses will make the stock more attractive.

“Another 5-10 per cent fall in Infosys shares will be a good buying opportunity,” IDBI Capital head of research AK Prabhakar told NDTV.