Why Balakrishnan, member board Infosys sells 1 lakh shares for Rs 33 crore

[wptab name=’Infosys Stocks’]infosys-stocksInfosys board member V Balakrishnan has sold 1,00,000 shares in the company for Rs 33 crore in the open market. In a regulatory filing on the National Stock Exchange, Infosys said Balakrishnan sold 50,000 shares each held by his daughters Sneha and Sweta Balakrishnan.

He is currently the head of Infosys business process outsourcing unit, the company’s core banking software Finacle, its India business and chairman of Infosys Lodestone. The stock exchanges were informed about the share sale after market hours.

Balakrishnan could not be reached for immediate comment. On Friday, Infosys stock closed at Rs 3,361 a piece, up by 0.10% on NSE.[/wptab]
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