Sikka's exit: Infy records sharpest fall since Apr 2013, ends 9.6% lower

The stock has erased its entire Thursday's 4.5% gain post the development.

Infosys ended 9.6% lower, recording its sharpest decline since April 12, 2013 on closing levels. The stock hit 52-week low of Rs 884, down as much as 13.4% in intraday trade after Vishal Sikka resigned as the Managing Director (MD) and Chief Executive Officer (CEO) of the company with immediate effect.

“The board of directors of Infosys has at its meeting today accepted the resignation of Dr. Vishal Sikka as the Managing Director and Chief Executive Officer of the Company with immediate effect,” Infosys said in a statement.

Vishal Sikka has now been appointed as the Executive