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Infosys rejoices on winning harassment case in US

Infosys Ltd. | IT - Software | IT & ITES | BSE: 500209 | NSE: INFY

21 Aug 2012 Evaluate

Infosys is currently trading at Rs 2417.20, up by 65.80 points or 2.80% from its previous closing of Rs 2351.40 on the BSE.

The scrip opened at Rs 2362.00 and has touched a high and low of Rs 2438.75 and Rs 2362.00 respectively. So far 71,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 2990.00 on 22-Feb-2012 and a 52 week low of Rs 2101.65 on 26-Jul-2012.

Last one week high and low of the scrip stood at Rs 2438.75 and Rs 2290.00 respectively. The current market cap of the company is Rs 1,38,673 crore.

The promoters holding in the company stood at 16.04% while Institutions and Non-Institutions held 56.18% and 14.79% respectively.

Finding no basis to support any of the charges, US court in Alabama dismissed the harassment charges filed against Indian IT major Infosys, by one of its American employees, Jack Palmer. Although US District Judge Myron H Thompson stated that the threats against Palmer were “worrisome”, concluded that Palmer had no right to recover from Infosys.

US employee Jack Palmer filed a lawsuit against the company in the US court over alleged misuse of B1 visas and also claimed the company had retaliated against him for blowing the whistle on the same. American worker alleged the company of making widespread fraudulent use of short-term business visitor visas, known as B-1 visas, for bringing workers from India to the United States (US) for longer-term projects. However, Judge Myron turned down the allegation by the whistle-blower on grounds of not meeting the standards under Alabama law enough for a worker to claim negligent or outrageous mistreatment by an employer.

Recently, the company got selected by the Department of Post, Ministry of Communications and Information Technology, Government of India for a mission-critical program that would enhance India Post’s financial services across 150,000 post offices in the country. Infosys, a global leader in consulting and technology, has been selected by the Department of Post, Ministry of Communications and Information Technology, Government of India for a mission-critical program that will enhance India Post’s financial services across 150,000 post offices in the country.

Infosys Share Price

1318.60 -0.30 (-0.02%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
TCS	2581.65
Infosys	1318.60
HCL Tech.	1442.50
Wipro	204.35
Tech Mahindra	1511.85
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Infosys rejoices on winning harassment case in US

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