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Infosys Ltd denied a media report on Friday that the founders of India's second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.
The Times of India newspaper had reported the founders were exploring such a sale, citing people familiar with the developments, although it carried a denial from one founder, Narayana Murthy.
Infosys "has no information on any such development," the company said in a statement, adding that the "speculation has already been categorically denied by the promoters."
Infosys shares were still down 2.1 percent at 0543 GMT, after earlier falling as much as 3.5 percent.
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