India’s Youngest Crorepati: Narayana Murthy gifts 15,00,000 shares of this IT-software company to his four-month-old grandson!
The company's shares have an ROE of 32 per cent & an ROCE of 40.7 per cent.
Infosys co-founder NR Narayana Murthy has made headlines once again, and not for his 70 hours a week mantra this time. Mr Murthy has gifted shares worth over Rs 240 crore to his four-month-old grandson, Master Ekagrah Rohan Murty, who joins the list of millionaires in India. Recent regulatory filings show that the 77-year-old transferred the shares, comprising 0.04 per cent of Infosys stake, to his grandson in an off-market transaction. Following the share transfer, Narayana Murthy's holding in Infosys fell to 0.36 per cent. Ekagrah R Murty, the child of Rohan Murthy and his wife Aparna Krishnan, was born on November 10 last year in Bengaluru, making him the youngest crorepati in India, potentially.
Ekagrah is the third grandchild of Narayana Murthy and his wife Sudha Murthy, who took oath as a Rajya Sabha MP last week. Notably, Akshata Murty, Narayana Murthy's daughter, held a 1.05 per cent stake in Infosys by the end of the December quarter, while Sudha Murty owned 0.93 per cent, and Rohan possessed 1.64 per cent. Murthy, along with six other co-founders, initiated Infosys in 1981, and except for Ashok Arora, who departed the software services exporter in 1989 to settle in the US, all the co-founders have since become billionaires.
Today, shares of Infosys Ltd plunged 32.60 points or 1.99 per cent to Rs 1,602.30 per share from its previous closing of Rs 1,634.90 with an intraday high of Rs 1,632.65 and an intraday low of Rs 1,599. The stock’s 52-week high is Rs 1,731 and its 52-week low is Rs 1,215.45.
Infosys Ltd, the second-largest IT company in India, offers consulting, technology, outsourcing and digital services to help businesses with their digital transformation. They focus on both digital services (like AI and cloud migration) and core services (application development and management) across various industries like finance and retail, with most of their revenue coming from North America. It is the 2nd largest information technology company in India behind Tata Consultancy Services Ltd (TCS).
The company falls under the BSE Sensex Index & NSE Nifty-50 Index with a market cap of over Rs 6,65,000 crore. The company's shares have an ROE of 32 per cent & an ROCE of 40.7 per cent and has been maintaining a healthy dividend payout of 58.8 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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