Infosys back on top 10 m-cap list; up 2% for second straight session

The stock was up 2.7% at Rs 919, extending its Wednesday's 2% gain on BSE, in range-bound market

Infosys was up 2.7% at Rs 919, extending Wednesday’s gain of 2% on BSE, in otherwise range bound market on Thursday, on reports that the company’s co-founder Nandan Nilekani is likely to return to the helm of IT major.

After a nearly 5% gain in past two trading sessions, Infosys, the country’s second-largest software company is back in the top 10 companies by market capitalisation (m-cap) or value on the BSE and the National Stock Exchange (NSE).

With the m-cap of Rs 210,379 crore, Infosys is currently stands at ninth rank, ahead of Indian Oil Corporation, which had m-cap of Rs 208,318 crore at 11:49 am, the BSE data shows.

The m-cap of Infosys had declined by Rs 33,914 crore or 14.5% in just two trading sessions between August 18 and August 21, after Vishal Sikka, the company’s first non-founder Chief Executive Officer (CEO), resigned on last Friday, August 17, citing slander by founders.

According to Business Standard reports, the domestic Institutional Investors (DIIs) have written a letter to Infosys seeking the return of co-founder Nandan Nilekani on the company’s board. Nilekani left Infosys in 2009 to take charge at the Unique Identification Authority of India (UIDAI), the implementing agency of Aadhaar. CLICK HERE TO READ FULL REPORT.