Mitrankur Majumdar takes over Infosys CEO designate's old shoes
Infosys is in focus.
· LiveMint Companies
Infosys has appointed Mitrankur Majumdar to lead its $2.7 billion Services, Utilities, Resources and Energy business, replacing CEO-designate Ashiss Kumar Dash, in a move signalling continuity and stability.
The analysis
Against that, the stock is +0.4% on the day at ₹996.20, and has returned -6.7% over three months. It sits 41% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.1% over the same period, so Infosys is running 7.8 points behind its peers.
For Infosys, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Market context
- The company directly in focus is INFY.
- Sector exposure: IT.
In this story
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