Infosys ADRs Soar 40% on NYSE, Trading Halted Amid Share Recall

• Infosys ADRs surged nearly 40% on the New York Stock Exchange on December 19, reaching $27, leading to a trading halt.
• The sharp rise was attributed to a major bank recalling a large number of lent shares, forcing short-position traders to buy.
• Indian IT stocks, including Infosys, TCS, Tech Mahindra, Wipro, and HCL Tech, also saw gains on Indian markets.
• Accenture's better-than-expected first-quarter results, showing 5% revenue growth, fueled optimism in the IT sector.
• Wipro ADRs also jumped 7% to $3.07, marking a third consecutive day of gains for Infosys ADRs.

Why It Matters: Infosys ADRs halted trading after a 40% surge driven by share recall and positive IT sector news.