The buzz of Nandan Nilekani's possible return to Infosys led to the company's shares rise as much as 3%
Infosys co-founder Nandan Nilekani is likely to return to helm the IT giant, according to media reports.
However, clarity on the status of Nilekani's specific role will be clearer in another 48 hours.
Meanwhile, the buzz of Nandan Nilekani's return to Infosys led to the company's shares rise as much as 3%.
Many domestic institutional investors including ICICI Prudential Asset Management, HDFC Asset Management, Birla Sun Life AMC among others, had written to Infosys board to bring former chief executive Nandan Nilekani back to take care of the firm in turbulent times after Vishal Sikka's resignation as MD and CEO.
Nandan Nilekani was among the seven founders that set up Infosys more than three decades ago and served as its CEO between March 2002 to April 2007. Later in 2009, Nilekani had left the firm to head the Unique Identification Authority of India (UIDAI).
According to a moneycontrol.com report, the Nilekani family owes a 2.29% stake in Infosys, as per the quarter ended June this year.
Earlier in the day, Narayana Murthy postponed a scheduled conference with the company's investors. The said conference will now reportedly be held on August 29.
According to reports, the meet has been postponed as Murthy has taken unwell. He was expected to address concerns over the ongoing chaos at the IT-giant.
Since Friday, when Sikka announced his resignation, Infosys shares have downgraded to 14%. On Tuesday, the stock closed at Rs 876 on the BSE.
Sikka was brought in as the company's first non-founder CEO in June 2014, prior to which the position was held by one or the other founder.
In a letter shared on his blog, Sikka referred “increasingly personal attacks against him” and said that he cannot continue in such an environment.
“I cannot carry out my job as CEO and continue to create value, while also constantly defending against unrelenting, baseless/malicious and increasingly personal attacks”, Sikka had said.
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