After reaching three-year lows, the IT stock is now trading in green for three straight trading sessions. At 11:15 am, the stock of the company was trading at Rs. 912.9 up 2.06% on the BSE and on the NSE it was trading at Rs. 912.45, higher by 2.45%.
On Monday the stock closed at Rs. 866 but the news of Nandan Nilekani's likely comeback at the Infosys' helm has rejoiced the sentiments in the stock.One of the news channel reported his comeback as a non-executive Chairman of the company. And at the same time, other co-founders have refused Nandan Nilekani's take up of any operational or business position at the IT bellwether. Furtherore, with his comeback the Infosys board is likely to go through a complete overhaul.
Meanwhile there is also news that R Seshasayee, ongoing Chairman of the company and Ravi Venkatesan, co-chairman of the company are also likely to step down from their respective positions at Infosys.
Nandan Nilekani headed the Bengaluru-based IT company between 2002 and 2007. During his tenure, the dollar revenues for the companies registered an CAGR of 42% while its average EBIT margin stood at 28%. At the same time, former CFO said he is not sure whether the board has had any concrete discussions with Nilekani.