The continuing dispute between the Infosys founders and the current Infosys board went public again, regarding the nearly 60% hike given to Chief Operating Officer Pravin Rao. Founder Narayana Murthy, in a public letter, noted that such a big hike in salary "for a top level person, when the compensation for most of the employees in the company was increased by just 6 percent to 8 percent is, in my opinion, not proper. This is grossly unfair to the majority of the Infosys employees."

Reliance Industries has hit another high today in its share price after its announcement that Jio's customer base has hit 72 million subscribers, making it the largest mobile broadband services company in the country. The announcement included Reliance Jio unveiling the new Jio Summer Surprise, which provides Jio Prime users with free services for three more months on recharge of Rs. 303 or higher. This means that Jio will have provided free services for at least 10 months in succession. With its gains in market share, the predatory pricing charge that the telecom industry has been levying against it may become more defensible, and the COAI has already spoken up saying that regulators need to step in regarding the continuing free sevices that Jio is offering. 

Stock in spotlight: Exide Industries, whose share price is near its 52 week high. The company had seen sharp sales growth of 13% YoY - competitor Amara Raja logged 10% growth YoY - despite increase in raw material prices. Axis Direct had issued a hold on Exide in February.  

Photo of the day: A rabbit fails to clear an obstacle during a track and field competition in the Czech Republic. Radek Mica/AFP/Getty