Infosys ADR zooms 40% in early deal on Friday

Infosys ADR (American Depository Receipt) jumped nearly 40 per cent in early trade on Friday, surprising investors and market participants. The immediate trigger is not known. The trading was halted on the NYSE after the stock hit $26.62, up $7.44 or 38.79 per cent on the NYSE. However, at Nasdaq, the stock after hitting $30, corrected sharply to rule at $22, still up over 15 per cent.The underlying Infosys stock on the NSE on Friday closed at ₹1,638.70, up 0.7 per cent. In fact, all major IT companies, TCS ...