Street signs: FPIs book gains in Infy, grey market premiums drop, and more

FPIs book gains in Infy

The recent rally in Infosys – India’s second largest software firm – has prompted several foreign portfolio investors (FPIs) to take money off the table. According to data, big ticket investors such as Nordea Bank, UBS, AGF Management and Goldman Sachs put together have sold over 10 million shares of Infosys in the past month. Similarly, domestic fund house ICICI Prudential and UTI Mutual Fund too have sold 12 million shares of the Bengaluru-based company in the same period. Interestingly, Franklin Resources purchased 3.9 million shares of the company last week – the only institution to