Infosys Stock Drops Two Per cent as Company's Shares go Ex-Bonus

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    Shares in Infosys fell 2 per cent after the company's shares went ex-bonus on the exchanges. The company had declared a bonus of 1:1 per share in October along with its results.

    Infosys Stock Drops Two Per cent as Company's Shares go Ex-Bonus
    Infosys: Quotes, News
    BSE 657.85BSE Quote20.4 (-3.10%)
    NSE 657.60NSE Quote22.35 (-3.40%)
    Dealers say there could be some selling pressure in the stock as there would be additional shares on account of the bonus and investors would resort to profit booking. In any case shares of the company have rallied sharply and have been hitting their 52-week high.

    Several brokerage firms have upgraded the stock to buy on hopes of renewed recovery in the US, a key market for Infosys.

    A depreciation in the rupee has also helped push the stock higher.

    GoodReturns.in

    Read more about: infosys
    Story first published: Tuesday, December 2, 2014, 9:50 [IST]
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