Infosys hits one-month low as promoters offload shares

The stock dipped nearly 5% to Rs 1,969, its lowest level since October 31, on the National Stock Exchange.

Shares of Infosys have dipped nearly 5% to Rs 1,969, its lowest level since October 31, on the National Stock Exchange (NSE) after the company its founders, including Narayana Murthy, Nandan Nilekani, and their family members sold a combined nearly 33 million shares of the company for Rs 6,481 crore through open market. The market report suggests that the promoters have sold the shares at a fixed price of Rs 1,988 each.

According to disclosure filed by the Infosys with stock exchange reveals that, Narayana Murthy and Nandan Nilekani family have sold 12 million shares each worth of Rs 4,771 crore, while Dinesh Krishnaswamy and his family sold 6.2 million shares amounting of Rs 1,232 crore and Kumari Shibulal sold 2.4 million shares of Rs 477 crore.

Rohini Nilekani, Nandan M Nilekani and Akshata Murthy sold 6 million shares, while Sudha Murthy sold 5.6 million and Asha Dinesh sold 4 million shares, data shows.

Meanwhile, till 1218 hours, a combined around 39.6 million equity shares of the information technology company changed hands on NSE and BSE.