Shares of Infosys Ltd plunged 5.5% on Wednesday, extending a two-day decline of over 8% and pushing the IT giant into bear market territory. The sharp fall has rattled investors and wiped out Rs 6,875 crore from the notional wealth of co-founder Narayana Murthy and his family.
At its session low of Rs 1,563.80 on Wednesday, Infosys was down nearly 22% from its 52-week high of Rs 2,006.80, recorded in December 2024.
The Murthy family, which holds a 4.02% stake in Infosys, saw the value of its holdings shrink from Rs 33,163 crore in mid-December to Rs 26,287 crore as of Wednesday.
Narayana Murthy, who owns a 0.40% stake, saw his holdings drop Rs 684 crore to Rs 3,299.79 crore. His wife, Sudha Murty, with a 0.92% stake, now holds shares worth Rs 7,600.41 crore, down Rs 1,573.54 crore.
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