Strategists said there could be a lull period in the coming months in FPI inflows.
Analysts said it comes as a “partial relief ” for liquor companies which have been under a cloud in recent months.
Infy’s ADR surged 1.4% after Nilekani’s appointment as non-executive chair on Thursday.
Buy JM Financial at a price target of Rs 171.
“The investment team's thesis on Infosys has not been materially affected by the CEO resignation,“ Kimberly Weinrick, OppenheimerFunds spokesperson said.
Open interest in TCS' August futures has jumped 7.5% in the last three sessions.
The move also comes at a time when authorities are clamping down on shell cos for allegedly being used as conduits for illicit fund flows.
India will have a bigger correction than other markets as the primary support mechanism is investor flows.
Infosys board’s decision to announce Sikka’s resignation, and the Rs 13,000-crore share buyback and its price over a span of three days have sent the company’s stock into a tizzy.
In India, fund raising through corporate bonds as a percentage of GDP was 17.9 per cent in 2016.
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