Infosys shares rose nearly 5 per cent as the company has named former CEO Nandan Nilekani as its new Chairman.

The stock opened higher and further gained 4.49 per cent to Rs 953.50 on the BSE. On the NSE, shares of the company went up by 4.58 per cent to Rs 953.95.

The stock was the biggest gainer among both Sensex and Nifty components during the morning trade.

Stock markets were closed on Friday for Ganesh Chaturthi.

Infosys faced a leadership crisis after first non-founder chief executive Vishal Sikka abruptly quit on August 18, blaming the founders for slander.

Last week saw the founders staging a dramatic coup, bringing back co-founder Nandan Nilekani as its Chairman, replacing R Seshasayee.