Shares of Infosys have fallen to its lowest level since December 9, 2015, to Rs 1,028, down 3% on the BSE in early morning trade after a key client Royal Bank of Scotland (RBS) scrapped a project to set up a separate bank in the United Kingdom, for which IT major was a key technology partner.
The stock is currently trading nears to its 52-week low of Rs 1,012, touched on November 11, 2015 during intra-day trade.
“The Royal Bank of Scotland announced last week that it will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G), and instead will pursue other options for the divestment of this business,” Infosys said in a media statement on Saturday, August 13, 2016.
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