Friday, 17 February 2017

Sensex Off Day's High; Nifty Bank Hits Record High ; Infosys Dips

The recent strife at Infosys raises many question marks and is a cause for concern, said Hugh Young, Managing Director of Aberdeen Asset Management-Asia, one of the largest foreign institutional investors in Indian markets. 

Young said that the conflict between the Infosys founders and the software major’s board over corporate governance and severance payments to former top executives was not particularly healthy. 

Young said the news that Infosys’s peer TCS was mulling a buyback of shares was good news as it has a strong balance sheet and surplus cash, adding that other IT companies may follow suit.

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