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Karwar, Jun 3: The India Meteorological Department (IMD) has issued an alert, predicting thundershowers and heavy rainfall over north interior Karnataka, coastal Dakshina Kannada and Udupi over the next three days.

With Cyclone Nisarga hitting the Uttara Kannada coast on Tuesday,  parts of coastal Karnataka received heavy rainfall. Gusty winds tore through the coastal towns, as the sea too turned violent with rough waves smashing the shore.

The alert was issued with the advancement of Nisarga from east-central Arabian Sea to north Maharashtra, and adjoining south Gujarat coast. “Though it does not cover Karnataka, the range of cyclonic winds is very big and reaches north interior Karnataka also.

So an alert has been called out,” CS Patil, director in-charge, IMD, Bengaluru, said. The weather department has forecast a severe cyclonic storm and then a depression. Patil said formation of systems is a common factor before the onset of the monsoon and they help in its advancement.

“Cyclone Nisarga is helping in the quick advancement of the southwest monsoon to Karnataka, and the monsoon is likely to arrive before the scheduled date as conditions are favourable,” he added.

Bengaluru, Jul 26: Today, one of the Co-founders of Infosys, SD Shibulal announced that over the last three days (22nd - 24th July) his family members have sold a portion of (representing approximately 0.20 per cent of the paid-up equity share capital) their holding in Infosys Ltd on the stock exchanges.

Proceeds from the partial stake monetization will be utilized for a combination of philanthropic and investment activities.

The sale was executed by Citigroup Global Markets India Private Limited as the Sole Broker.

The Founders, have served Infosys in various capacities, since its inception in 1981 until October 2014. Over the three decades, the Founders have nurtured the company transforming it into one of the professionally run companies in India with a global presence.

This press release is for information purposes only and is not an offer to sell, or a solicitation of an offer to buy, any of the shares described herein. The shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or in any state or other jurisdiction of the United States.

Securities may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the US Securities Act. 

There has not been and there will not be any public offering of the shares in the United States.