Infosys Share Price: Salil Parekh, CEO of Infosys, the country’s second largest IT company, has agreed to pay a penalty of Rs 25 lakh to SEBI. SEBI gave this information on June 26. Salil Parikh was accused of insider trading. Let us tell you that after paying this fine amount, all charges against Salil Parikh will be cleared.
Multibagger shares to be split into 10 tranches, record date also announced
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What is the whole matter?
A statement issued by Sebi said that during the investigation it was found that some of the information was unpublished price sensitive information (UPSI) which Infosys refused to accept. SEBI conducted the investigation from 29 June 2020 to 27 September 2021. After which it was found that it is against the rules of SEBI Act and PIT Regulation 2015.
Sebi said that on July 14, 2020, Infosys informed everyone about the partnership with Vanguard. SEBI, in its investigation, found that it would also affect Infosys’ revenue.
What is UPSI?
Accordingly, any information that directly or indirectly relates to the Company. It is not generally available. When it becomes generally available, it affects the company’s stock price. In the information given by Sebi, it said that in such cases, the MD or CEO of the company is responsible.
What is the position of Infosys in the stock market?
Infosys shares were trading bullish today. At 2.50 pm, the company’s share jumped 1.72 percent to Rs. was at 1567.90. Shares of the company in BSE Rs. Opened at 1540. In the last one year, the share price of Infosys has seen an increase of 23 percent.