The comments by Infosys founder and ex-Chairman Narayana Murthy have pushed Infosys into the headlines for all the wrong reasons. A exemplar for decades for its corporate governance norms, the company has now come under fire for high severance payouts to departing employees, and the appointment of the wife of Union Minister Jayant Sinha to the board.
Last year, the Infosys board gave Sikka $11 million in compensation, higher than the previous $7.08 million. NRN has long been critical of very high executive pay - under him, the software company had a rule governing CEO compensation. The top executive salary would not exceed 25 times that of an entry-level employee. CEO Vishal Sikka's pay in his first year however, was 300 times that of former Infosys CEO S D Shibulal's.
Orient Green, which was recently in the news after signing an exclusivity deal with IL&FS while exploring a potential merger, announced its Q3 results today, showing a 46% growth in revenues for the quarter compared to the same period last year. The company's interest payments however continue to be a drag on profits, although the firm has narrowed its losses from Rs. 109.5 crore in last year's quarter to Rs. 68 crore this Q3. The company's wind business vertical however, turned profitable.
Stock in spotlight: Bharat Forge Ltd, which has hit a new 52 week high today.
Photo of the day: A bull throws its rider during the annual jallikattu event in Madurai Arun Sankar/AFP/Getty
