After an Intense selling in Infosys on Monday, Akshata Murty, the wife of UK Chancellor Rishi Sunak, experienced a paper loss of over ₹500 crore as the Indian software giant co-founded by her father, Narayana Murthy, dropped 9.4% on Monday.
Shares of Infosys on Monday tanked more than 9 per cent, wiping out Rs 59,349.66 crore from its market valuation, after the company reported a lower-than-expected growth in the fourth quarter net profit and gave a weak 4-7 per cent revenue growth guidance for FY24.
The stock tumbled 9.40 per cent to settle at Rs 1,258.10 on the BSE. During the day, it plunged 12.21 per cent to Rs 1,219 -- its 52-week low mark.
On the NSE, it fell 9.37 per cent to finish at Rs 1,259.
Infosys was the biggest drag on both the benchmark indices Sensex and Nifty.
The company's market valuation also declined by Rs 59,349.66 crore to Rs 5,21,930.34 crore.
This was the biggest decline in share value for the company since March 2020.
Other IT firms also faced heavy drubbing, with Tech Mahindra, HCL Technologies, Tata Consultancy Services and Wipro falling in the range of 1-5.25 per cent.