Infosys dips after block deals

Employees walk along a corridor in the Infosys campus in the southern Indian city of Bangalore
Infosys has dipped 3% to Rs 1,164, falling 4% from its intra-day high on the BSE, after nearly six million equity shares changed hands via multiple block deals.

At 09:46 am, around 5.6 million equity shares representing 0.24% of total equity of Infosys changed hands, the BSE data shows. However, the name of the buyer and seller of the equity shares was not immediately ascertained.

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In last month, Infosys co-founders S Gopalakrishnan and S D Shibulal had offloaded around 7.5 million equity shares in the Bengaluru-based information technology services company.

At 10:08 am, the stock was trading 1.8% lower at Rs 1,180 after hitting high of Rs 1,215 on BSE in early morning trade. The stock was down 1.5% at Rs 1,182 on the NSE. It hit a high of Rs 1,208 and low of Rs 1,175 so far. A combined 6.17 million shares changed hands on the counter on the BSE and NSE so far.

On Monday, the stock hit a record high of Rs 1,250 on the BSE in intra-day trade. It had outperformed the market by gaining 9% thus far in 2016 as compared to 5% decline in the S&P BSE Sensex.


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