Why was Infosys fined €175,000 by French labour authorities?
Infosys was fined €175,000 by French labour authorities last week over shortcomings in its employee working time recording system. The company shared details in a regulatory filing on Sunday — adding that the penalty would have no material effect on its financials and operations. The update came mere hours after the company released its quarterly results.
Shares of the Indian IT services company have rallied more than 3.5% on both BSE and NSE as trading began on Monday. Infosys had seen its market valuation eroding by more than Rs 4,400 crore on Friday after tempering the upper end of its full-year revenue forecast amid continued macroeconomic uncertainty.
