(MENAFN) Some of Infosys Ltd.'s founders sold shares worth USD1.1 in India's second-largest IT services exporter on Monday, cashing in on a more than 20 percent gain in the stock since the company picked its first outsider as chief executive, Gulf News reported.
The shares were sold by N.R. Narayana Murthy, Nadan Nilekani. S.D. Shibulal and K. Dinesh, members a group of seven engineers who founded Infosys in 1981 by pooling together USD250, stock market filings showed.
The company's shares grew 23 percent since it named in June Vishal Sikka, a former executive at global software firm SAP, as its CEO in a bid to revive growth.
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