A year ago, when India’s second-largest information technology (IT) services company, Infosys, brought back iconic co-founder N R Narayana Murthy as executive chairman, about two years after his retirement, the decision was welcomed with much fanfare.
Despite a shrinking market share and declining profitability, Murthy’s return helped Infosys get a double thumbs-up from investors. While the company’s shares rose around five per cent in the first trade after the announcement of Murthy’s return, they surged nearly 30 per cent over the next three months.