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Infosys Scales To New High After Stock Turns Ex-Bonus


The stock of Infosys in today's trade hit a new high after it turned ex-bonus wef September 4, 2018. In an exchange filing on August 24, the company said, . "This is to inform you that the members of the company through the postal ballot (physical/electronic voting) have approved issue of bonus shares/stock dividend".

The board of directors have fixed Tuesday, September 4, 2018 as record date for the purpose of allotment of bonus shares/stock dividend, Infosys said further.

Infosys Scales To New High After Stock Turns Ex-Bonus

The stock of Infosys rose as much as 2.37% to an all-time high of Rs 733.65 on BSE today.

In order to allay concerns regarding increasing senior-level exits at the Bengaluru-based Information Technology company, as per reports the company's CEO Salik Parekh last week reached out to investors.

The company of late saw the exit of its Chief financial officer MD Ranganath. Also, the rate of attrition at India's second largest IT firm registered an increase in the last reported quarter at 20.6% in comparison to just 16.6% in the previous quarter.

Salil Parekh took over the position as the company's CEO in January this year after the exit of the company's predecessor Vishal Sikka who left due to corporate governance issues with the company's co-founder Narayana Murthy.

After holding a meet with Parekh, Kotak Institutional Equities analysts Kawaljeet Saluja and Jaykumar Doshi as mentioned in one of the business dailies reported that the CEO is looking to augment leadership via external hires in account management, large deals team and select digital competencies as well as looking at ways to curb attrition.

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