The lucky Infosys employees allotted 5.11 Lakh shares

Monday morning is going to be great for India’s leading IT Company Infosys’s employees as they are allotted more than 5 lakh shares from its company. World’s well established known company Infosys, Which is now India’s second largest IT company has allotted 5,11,862 shares to its employees, it said in a filing to the stock markets today. These shares are allotted to the employees under two different schemes.

First, Infosys has allotted 1,04,335 shares to employees under the Stock Incentive Compensation Plan(SICP). So far 4,07,527 shares have been allotted to the employees through the Expanded Stock Ownership Program(ESOP).

Infosys shares closed at Rs 1,247 at the end of the stock market last week. Infosys shares fell 0.72 percent on Friday. But now this is going to be very beneficial for the company when market will open on Monday morning.

Recently, Infosys released its March quarter results. In this, Infosys stock price fell as the company’s earnings were not satisfactory.

Apart from Infosys stock, shares of other IT companies like TCS, Wipro, Tech Mahindra also fell. In particular, Infosys share price has remained below Rs 1300.

The unsatisfactory returns of IT companies are also seen as a sign of a slowdown in the global economy.

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