N R Narayana Murthy, the co-founder of Infosys, is insecurely hanging on to his status of being a billionaire. Whereas, on the other hand, Kris Gopalakrishnan has lost his status after the sheer drop in the shares of the company in the past 2 trading sessions.
The share price of Infosys has fell almost 14.5% since last week, resulting to the sudden fall of wealth amid investors, particularly the founders, who combined have a 12.74% share. All the founder marketers have lost more than $100 Million after the resignation of CEO Vishal Sikka. Shares of Gopalakrishnan were valued almost $998 Million as on this week, down from $1,160 Million (or $1.16 Billion) last week. Murthy and his family lost over Rs 1,000 Crore or $180 Million in 2 days. Net worth of Nandan Nilekani has dropped from more than $800 million to below $750 Million.
Infosys lost $5.3 Billion or Rs 34,000 Crore in market capitalization in last 2 trading sessions. And to put in outlook the loss of the promoters, they combined lost Rs 4,321 Crore in the last 2 days, a sum that is around equivalent to what Nilekani was valued in last week. From around Rs 30,000 Crore, the shares of the founders are valued Rs 25,594 Crore as on this week. The share cost has dropped to Rs 874 this week from Rs 1,021 last week. The share is now almost back to the height it was when Sikka was in play. With the arguments surrounding the deal of Panaya and the disparities between the board and Murthy showing no marks of being solved, even the announcement of share buyback price has done little to keep things in positions.
The board of Infosys last week had approved a buyback of Rs 13,000 Crore at Rs 1,150 per share.”Most brokerages have demoted the stock and outlook carries on being unenthusiastic,” claimed CEO of an organization that holds shares of Infosys. He added that the firm encounters a huge confront in terms of hiring a new CEO who can assembly around all the parties and who is tolerable to everyone.