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U.S.-traded shares of Infosys Ltd soared as much as 40% within minutes of Friday’s opening bell, briefly adding tens of billions of dollars to the Indian IT group’s market capitalization and prompting the New York Stock Exchange to halt trading, in a market dislocation that has focused attention on short selling, automated trading systems and […]
India’s second-largest IT services company Infosys on Saturday issued a statement on the unprecedented 40% rise in its American Depositary Receipts (ADRs) on the New York Stock Exchange (NYSE) on Friday, saying that no material events related to the move have occurred that required disclosure.“The Company observed volatility in the price of its American Depositary […]
