Infosys Drags India Stocks Lower After Whistle-Blower Complaint

Campus Life At The Infosys Ltd. Headquarters Ahead Of Earnings — Photographer: Karen Dias/Bloomberg

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Nupur Acharya

October 22, 2019 at 4:40 AM UTC

Updated on

October 22, 2019 at 10:39 AM UTC

This article is for subscribers only.

Infosys Ltd. dragged India stocks lower after an anonymous whistle-blower complaint alleged the software exporter used irregular practices to shore up profits.

The S&P BSE Sensex declined 0.9% to 38,963.84 in Mumbai. The NSE Nifty 50 Index slipped 0.6%. Infosys sank 16%, weighing the most on both gauges and offsetting post-earning gains in HDFC Bank Ltd. and Reliance Industries Ltd. This is the sharpest decline for the software exporter since April 2013, data compiled by Bloomberg show.