The business wrap: Huge inflow of foreign investments sends markets soaring, and 6 other top stories
In other headlines: After the US, Singapore is blocking visas to Indian IT professionals, and Narayana Murthy criticised Infosys for COO’s unfair pay hike.
A look at the headlines in this sector right now:
- Nifty closes at a record high, Sensex climbs 290 points on the financial year’s first trading day: The boost has been attributed to a great inflow of foreign investment since the BJP’s win in the state elections last month.
- Visas for Indian IT professionals in Singapore down ‘to a trickle’, says Nasscom chief: Concerned over new caveats being imposed, the Centre has decided to suspend its review of a trade pact with the country.
- Narayana Murthy denounces large pay hike for Infosys COO UB Pravin Rao: He accused the company of ‘poor governance standards’ and said the relative rise in compensation was far more than other employees.
- Centre wants to change security features of Rs 2,000 and Rs 500 notes every 3 to 4 years: Officials said the internationally accepted practice would curb counterfeiting.
- Shares of Tata Motors surge after its subsidiary gets permission to sell India-made robot in Europe: BRABO, made by TAL Manufacturing, has received a CE certification.
- Private equity firm Capital Square Partners buys Essar Group’s BPO unit for undisclosed amount: The money from the sale will be used to pay Essar Group’s debts.
- SBI completes merger with five associate banks and Bharatiya Mahila Bank: The new entity has 500 million customers and 740 million accounts.