Three Infosys founders - Murthy, Kris Gopalakrishnan and Nilekani - have raised concerns with the Infosys board on corporate governance, including the pay hikes for CEO Vishal Sikka, the high severance packages for former senior employees and the appointment of the wife of Union Minister Jayant Sinha as independent director. While Infosys has publicly defended these decisions, the Infosys founders still have substantial influence on company direction, with their ownership amounting to 12.75% of the firm.

As H1B norms tighten in the US, other countries like UAE and Japan are taking the opportunity to announce visa regimes to attract talent. The UAE council has announced an opening up of visa and visit regulations and additional sops for startups and entrepreneurs looking to expand into the region, while Japan has identified IT as an investment priority, and is introducing a new law to reduce the waiting time for skilled Indians to only 24-48 months, before obtaining a “green card” with permanent residency status.

Stock in spotlight: Tata Steel, which announced a profit for the first time in five quarters. While realizations have improved for the company, some of the upside in performance has been helped by advance purchases made by dealers ahead of a price hike in January, as well as some purchases to get rid of demonetized currency.

 Photo of the day: Elaborate campaigning gear takes the form of helmets and magnets at Uttar Pradesh election rallies. Rajat Gupta/EPA