On May 31 (the day before the board meeting), roughly 24 million shares of Infosys, worth Rs 575 crore, were traded on both the exchanges against a three-month daily average of 14.5 million shares, worth about Rs 365 crore. The stock had advanced 2.7 per cent on May 31 when the Sensex
fell 2.3 per cent and the BSE IT index gained 0.4 per cent.
Brokers said the surge in volumes on that day was driven by a few large deals in the last hour of trading session.
Talks to bring Murthy back from retirement to Infosys were initiated on May 4. This was revealed by Murthy during a press briefing on June 1, soon after the board met to decide on his re-entry. Murthy said he was approached by the outgoing chairman, K V Kamath, on May 4 when he returned to Bangalore from a foreign trip.
Investors and analysts cheered Murthy's return, as Infosys' earnings have disappointed Dalal Street in the last two years. The re-entry has heightened hopes of Infosys regaining its past glory.