Infosys shares rise 3% as stock ADRs hit 52-week high before cooling off; IT major issues clarification

Infosys share price rose over 3% in intra-day deals on Monday, December 22 after the IT major issued a clarification after Infosys ADRs surged as much as 56% to hit a high of $30 on the NYSE during Friday’s trade likely by a short-squeeze trigger.

Infosys ADRs later pared gains to settle at $20.22, up 5.42%.