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Live Markets Commentary:
Sify Editors @ 9:50 AM:
Board accepts Sikka's resignation days before buyback plans
In a surprising move that should shock the technology industry, the board at Infosys has accepted the resignation of Vishal Sikka.
According to a handful of news sources, Sikka cited "distraction" and "disruption" in his resignation letter.
An image of what appears to be a resignation letter tweeted by CNBCTV18, quotes him saying, "After much reflection, I have concluded that it is indeed time for me to leave my current positions as MD and CEO and I have communicated my resignation to Sesh."
The board was barely two days away from announcing its buyback plans. Its official communication to the exchange houses confirmed the news on Sikka's exit, but there has been nothing on the proposed buyback.
Sify Editors @ 9:45 AM:
The Sensex in the red
The Sensex was trading 209.12 points or 0.66 per cent lower during the early session.
The wider 51-scrip Nifty of the National Stock Exchange was also trading 62.60 points or 0.63 per cent lower at 9,841.55 points.
The BSE Sensex, which opened at 31,729.88 points, was trading at 31,586.34 points, lower 209.12 points or 0.66 per cent from Thursday's close at 31,795.46 points.
The Sensex touched a high of 31,729.88 points and a low of 31,560.89 points in the trade so far.
Sify Editors @ 9:30 AM:
A blow to Infy, Sikka:
Vishal Sikka resigns as Infosys CEO. Board accepts, and the scrip is trading 5.28% down on the BSE Sensex.
Sify Editors @ 9:20 AM:
A jittery pre-morning for BSE
BSE Sensex slid by a 207.76 or a 0.65% plunge in the pre-morning session.
The Sensex will resume at 31587.70.
NSE Nifty too was down by 38.20 points points at 9865.95 at 9:15 AM.
|Cities||Gold (10g)||Silver (1Kg)|
|Chennai||Rs. 42200.00||Rs. 29721.93|
|Mumbai||Rs. 42200.00||Rs. 30139.04|
|Delhi||Rs. 42200.00||Rs. 29839.57|
|Kolkata||Rs. 42200.00||Rs. 30181.82|
|Kerala||Rs. 42200.00||Rs. 28983.96|