Shares of Infosys were trading 8.79% higher at $20 on the New York Stock Exchange at 10 pm (India time). Indian stock markets were closed on Friday for the Ram Navami holiday.
Sikka, who is regarded as the architect of SAP’s best-selling in-memory database software HANA, has been attempting to reengineer Infosys around the themes of innovation and a focus on the customer. His so-called ‘Renew and New’ strategy, analysts said, appears to be paying dividends. While the pace of growth has picked up, employee attrition levels are down, and the stock markets are showing their faith— Infosys shares have risen by 44% on the NSE since Sikka took over.