Infosys Rallies As Board Appoints New CEO & MD Salil Parekh; Could Rally Up To 15% In 1 Year

Shares of Infosys rose as much as 2.9 percent in morning trade on Monday after the Board appointed Salil Parekh as its new Chief Executive Officer and Managing Director of the company effective January 2, 2018, over the weekend.

The stock, which has given a flat return in the calendar year 2017, could well scale Rs 1,100 levels in the next 12 months, experts suggest. Most analysts remain fairly optimistic about the appointment of Parekh, who is no stranger to the IT industry. The appointment of the new CEO at Infosys will remove the uncertainty and put the stock back on investors’ radar.

The former Capgemini executive was in the race for the top job at Infosys last time as well, when the Indian IT major decided in favour of Vishal Sikka.

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