Institutional investors hit as Infosys shares fall over CEO's resignation

415 MF schemes have exposure to Infosys shares worth a total of Rs 21,240 cr

Following Vishal Sikka's resignation as CEO of Infosys after a prolonged tussle with the founder promoters, institutional investors are cautiously watching the unfolding drama at the Bengaluru-based information technology (IT) major. Infosys figures among the top holdings for many institutional investors and Friday's 10 per cent drop has made a huge dent in their portfolios. Given the high weightage of stock in benchmark indices, the stock is a must for many portfolios and exchange-traded funds (ETFs).

Some fund managers said the sharp correction in Infosys' shares provided a good buying opportunity to enter the counter ahead of an impending