Narayana Murthy, Sudha Murty’s family loses Rs 6800 crore due to…

Narayana Murthy, co-founder and promoter of Infosys along with his family members have suffered a major blow in their wealth.

In a major business development, Narayana Murthy, co-founder and promoter of Infosys along with his family members have suffered a major blow in their wealth. A sharp decrease in the prices of Infosys shares has cause a loss of Rs 6,875 crore wealth of Narayana Murthy and his family. As of the update from March 12, share prices of Infosys declined by Rs 71.55 (4.31%) to close at Rs 1,590.05.

Notably, five members of Narayana Murthy’s family collectively who held a 4.02% stake in Infosys, valued at Rs 26,287.19 crore, experienced loss in Wednesday’s decline. The loss marks a drop of Rs 6,875.70 crore from Rs 33,162.89 crore on December 13, 2024, when the stock reached its one-year high.

Job creation, not freebies, will help eliminate poverty: Murthy

In another development covering Infosys Co-Founder N R Narayana Murthy, the veteran said on Wednesday said job creation by innovative entrepreneurs, and not freebies, will help eliminate poverty. Moreover, Murthy exhorted entrepreneurs to focus on creating more businesses.

Poverty will “vanish” like dew on a sunny morning if we are able to create innovative enterprises, he added while speaking at the Tiecon Mumbai 2025 event, as reported by news agency PTI.

“I have no doubt that each of you will create hundreds of thousands of jobs and that is how you solve the problem of poverty, you don’t solve the problem of poverty by freebies, no country has succeeded in that,” Murthy said, addressing the entrepreneurs’ grouping.

At present, India feeds 80 crore people through monthly cash transfers. The comments from the renowned business leader come as a debate rages on freebies and their costs. Later, Murthy clarified that he does not know much on politics or governance, but gave some recommendations from a policy framework perspective.

(With inputs from PTI)