NEW DELHI Nandan Nilekani, co-chairman of Infosys Technologies Ltd, India's No. 2 outsourcer, has resigned from the company's board to join the government, the company said on Thursday.
Nilekani, one of the founders of Infosys, has been invited by Prime Minister Manmohan Singh to head government agency Unique Identification Authority of India in the rank of a cabinet minister, Infosys said in a statement.
Nilekani, a former chief executive of the company, was not involved in active management since becoming co-chairman in 2007.
Shares in Infosys, which has a market value of about $21 billion, were up 0.7 percent at 1,771.25 rupees at 0849 GMT in a Mumbai market down 0.5 percent.
(For more news on Reuters Money click in.reuters.com/money)
Trending On Reuters
It remains to be seen whether Nifty will be able to break the 8,100 mark during October. With major events out of the way, the next trigger will be the Q2 FY16 earnings season which is expected to kick off next week. It is advisable for the investors to continue building their equity portfolio by utilising market volatility as an opportunity, writes Ambareesh Baliga. Full Article