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SEBI seeks details of Infosys board meeting of 1st June

The Infosys stock jumped 3.32% a day before the board meeting, with 2.312 million shares changing hands. Moneylife had written about possible insider trading in the stock

The Securities and Exchange Board of India (SEBI) has sought clarifications from Infosys regarding its 1st June board meeting in which the company reappointed NR Narayana Murthy as its executive chairman.

 

Infosys on Thursday said it has provided the information sought by SEBI. “SEBI has sought certain clarifications from us relating to the board meeting held on 1st June and we have provided the same. We will fully cooperate with SEBI and provide all necessary information in this matter,” an Infosys spokesperson said. Specific details could not be immediately ascertained.

 

The Infosys stock jumped 3.32% a day before the board meeting, with 2.312 million shares changing hands. Moneylife had written about probable insider trading in the company’s stock, you can read it here.

 

Infosys had on 1st June recalled its founder Narayana Murthy and returned control of the company that has disappointed investors with poor earnings in the last nine quarters and losing ground to smaller rivals.

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