Infosys Technologies Is Losing Ground On Offering News

Infosys Technologies announced after the bell on Monday that it priced its sponsored secondary offering of 30,000,000 American Depositary Shares, representing 30,000,000 equity shares, at a price of $53.50 per ADS. The stock is now down 1.82 on 245K shares Tuesday morning.

Infosys Technologies traded in a range for the majority of Monday's session and finished up by 0.20 at $55.27. The stock rebounded off of the lower end of a one-week range at the highs of the year.

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