Infosys under Sebi scanner over May 31 stock price spike

Sebi is asking Infosys for details like who all were aware of the board meeting and the agenda because that's what could have led to the spike in share price of Infosys on May 31.

June 14, 2013 / 14:03 IST

Market regulator Sebi is understood to have sought information from Infosys over June 1 board meet. Sources told CNBC-TV18's Sajeet Manghat that the watchdog have likely taken notice of the unusual price movement on May 31. It must be remembered that a day prior to the said board meet, Infosys’s stock price rose 2.8 percent.

The June 1 board meet was held to announce Narayana Murthy’s return into the company. Sources say Sebi may seek information about agenda as well as the people who were aware of the meet.

Infosys has confirmed that Sebi has sought some clarifications on the June 1 board meeting. They are saying that this information has been provided and they are cooperating with Sebi. Any future information the regulator is seeking will be provided by them.

first published: Jun 13, 2013 10:18 pm

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