Infosys Shares Jump 3% After ADR's NYSE Surge; Company Clarifies 'No Material Events'

• Infosys shares rallied 3% after its American Depository Receipt (ADR) surged 40% on NYSE on December 19.
• The ADR surge led to two trading halts on the New York Stock Exchange.
• Infosys clarified there were 'no material events' causing the unusual ADR price movement.
• The company issued the clarification for transparency and to avoid 'unwarranted speculation'.
• The ADR surge was attributed to a 'technical anomaly related to market data and liquidity conditions', not a fundamental reason.

Why It Matters: Infosys shares gained after an ADR surge, which the company clarified was due to a technical anomaly.