Infosys recovers lost ground; rises over 1 pc

Shares of Infosys on Wednesday bounced back, rising over 1 percent, after a massive sell-off in the previous session on concerns over a whistleblower complaint against the company's top executives. The scrip closed the day at Rs 650.75, up 1.16 percent on the BSE. During the day, it jumped 2 percent to Rs 656.40.

On the National Stock Exchange, it rose 1 percent to close at Rs 650.35. Shares of Infosys on Tuesday plummeted nearly 17 percent, marking their worst intraday fall since April 2013, wiping Rs 53,451 crore off its market valuation.

A complaint by a group that calls itself 'Ethical Employees' of Infosys has alleged CEO Salil Parekh and CFO Nilanjan Roy were indulging in "unethical practices" to boost short-term revenue and profits. The IT services giant on Tuesday said it is investigating the anonymous whistleblowers' claims.

Meanwhile, leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about the whistleblower complaint.