Infosys share price may fall up to 15% amid allegations of unethical practices: Reliance Securities
Infosys share price which closed 0.18% or 1.35 points lower at Rs 767.75 on Friday is likely to see a 10-15% downside in the near term, according to Harit Shah, Research Analyst at Reliance Securities.
Last Updated: October 21, 2019 | 18:11 IST
In a complaint letter to the board of Infosys and the US Securities and Exchange Commission (SEC) on July 20, the group has claimed that the company asked them not to "fully recognise costs like visa costs" in last quarter to earn more profit. It added that when the auditor pointed it out, the issue was postponed by the company.