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As On 28-Sep-2020 EOD, Market Closed
SENSEX
37,981.63
592.97 (1.59%)
NIFTY
11,227.55
177.30 (1.60%)
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  • Infy rises as Class action lawsuit dismissed in US

    Infosys rose 1.68% to Rs 683.30 after a class action lawsuit filed against the IT major and some of its employees in the United States District Court stands dismissed.

    In October 2019, a class action lawsuit was filed in the United States District Court against Infosys and certain of its current and former officers. The complaint, which was filed in the Eastern District of New York, was brought on behalf of a class consisting of persons or entities who purchased the company's publicly traded securities between 7 July 2018 and 20 October 2019, and alleged claims for violations of the US federal securities laws. On 21 May 2020, the plaintiff voluntarily dismissed the lawsuit without prejudice.

    The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles, had filed the complaint alleging that CEO Salil Parekh skipped standard reviews of large deals to avoid accounting scrutiny.

    After unveiling Q3 results in January 2020, Infosys announced conclusion of the independent investigation into allegations contained in the anonymous whistleblower complaints disclosed earlier. The audit committee determined that the allegations are substantially without merit. It concluded that no restatement of previously announced financial statements or other published financial information is warranted.

    Infosys' consolidated net profit (after minority interest) fell 3.1% to Rs 4,321 crore on a 0.8% rise in revenues to Rs 23,267 crore in Q4 March 2020 over Q3 December 2019.

    Infosys is a global leader in next-generation digital services and consulting.

    Back to news list
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Flash News 28-Sep-2020
  •  ( 17:26) Most Asian shares end higher  
  •  ( 17:26) European markets rally as banks bounce  
  •  ( 16:25) Broader rally pushes Nifty above 11,200 mark  
  •  ( 15:57) L&T Technology Services to provide engineering services to US-based Tenneco  
  •  ( 15:27) SJVN bags investment approval from GOI for Himachal Pradesh projects  
  •  ( 15:02) Gulf Oil Lubricants India announces partnership with S-Oil Corporation of South Korea  
  •  ( 13:58) Lupin launches cholesterol control drug in the US  
  •  ( 13:43) CDEL confirms 'no negotiations' with TCPL on sale of vending machine business  
  •  ( 13:33) Asian markets mostly edge higher  
  •  ( 13:32) European shares rise across the board  
  •  ( 13:31) Metal shares rise for second day  
  •  ( 13:30) Sensex, Nifty at the high point of the day  
  •  ( 12:33) Ratnamani Metals & Tubes bags order worth Rs 216 cr in Carbon Steel division  
  •  ( 12:28) NSE India VIX cools off 2%  
  •  ( 11:20) Asian markets trade higher  
  •  ( 11:06) Deepak Fert. & Petro. plans to allot second tranche of FCCBs worth $15 million  
  •  ( 10:24) Nifty above 11,150  
  •  ( 10:23) Markets at intraday high  
  •  ( 10:04) Ugro Capital gets corporate agency license from IRDAI  
  •  ( 09:50) Surya Roshni bags order worth Rs 273 cr from Gail and Indradhanush Gas Grid  
  •  ( 09:49) Thomas Cook (India) withdraws buyback proposal  
  •  ( 09:24) Strong market breadth  
  •  ( 09:23) Market drifts higher in early trade  
  •  ( 09:23) Premier Explosives hits the roof on receiving arms licence  
  •  ( 09:22) Sequent Scientific completes sale of investments held in Strides Pharma  
  •  ( 08:24) Asian stocks rise  
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28 September 2020 00:00
1946.10
(1.13 %)
439.15
(5.83 %)
2963.35
(0.10 %)
3335.75
(6.29 %)
5981.00
(3.14 %)
443.40
(0.84 %)
1682.40
(1.85 %)
834.85
(0.89 %)
1054.05
(0.96 %)
2064.10
(-0.66 %)
362.90
(4.13 %)
554.95
(7.85 %)
1009.50
(-0.15 %)
173.35
(1.49 %)
1279.00
(2.37 %)
902.90
(1.53 %)
615.05
(3.77 %)
6707.00
(3.25 %)
15721.35
(-0.08 %)
87.55
(3.36 %)
71.90
(4.35 %)
168.10
(4.51 %)
2215.75
(0.64 %)
187.30
(2.80 %)
510.20
(4.24 %)
360.95
(2.57 %)
2425.35
(0.13 %)
779.40
(0.89 %)
1139.20
(2.71 %)
3928.40
(1.79 %)
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