Vishal Sikka, chief executive officer (CEO)-designate at Infosys, could be the costliest boss of an Indian information technology services company.

Experts said Sikka would not only earn more than any of his predecessors at Infosys but also among CEOs of competing companies.

In a major boost to Gujarat which has been regularly facing water woes due to deficient rains, Chief Minister Anandiben Patel today announced that they have got approval to raise the height of Narmada dam to 138.72 metres (455 feet).

"The Narmada Control Authority (NCA) has given the approval to raise the height of the dam to 138 metres," Patel said in Junagadh while she was there to attend a function.

In the biggest industrial accident in recent years, at least six employees of Bhilai Steel Plant were killed and more than 30 others injured after a gas leak on Thursday night. The victims included two deputy general managers.

The incident occurred when repair work was being carried out in a section of the plant. Sources said a blast furnace reported leakage, and when officials and firefighters reached the spot, there was a blast in a nearby pipeline.

Enthused by robust response to OFS mechanism of selling shares by companies, market regulator Sebi plans to provide discount for retail investors in such share sales and allow a larger set of firms to tap this route.

Besides, Sebi is considering at least 10 per cent of the shares to be sold through the OFS mechanism to be revered for retail investors, while non-promoters may also be permitted to tap the route, officials said.

Equities bounced back and posted modest gains today after overnight fall on the NSE led by select blue-chips ahead of key economic data on a day when top level changes at IT giant Infosys dominated the market.

Firm buying in healthcare, FMCG, auto, financial and technology counters supported the recovery, but selling in index-heavyweights Infosys, which got its first outsider CEO in Vishal Sikka, Bharti Airtel and ICICI Bank capped gains.

Mumbai: The 30-share bellwether BSE Sensex on Friday was trading marginally higher tracking mixed cues from the global stock markets.

Traders were awaiting the Wholesale Price Index (WPI) data for the month of May due on 16 June for more cues. Bloomberg estimates that WPI will be 5.3% for May, compared with 5.2% in April.

The Gujarat government on Thursday sought intervention of the minister of state for petroleum and natural gas minister Dharmendra Pradhan for recovery of Rs 10,000 crore in form of crude oil royalty from the state-run Oil and Natural Gas Corporation (ONGC) Ltd.

The Bharatiya Janata Party-led government outlined directives for news coverage.

Parliamentary Affairs Minister M Venkaiah Naidu on Thursday urged the media to report "constructive work," not "destructive."

"Destructive work is bad news," said Naidu. Reminding journalists of their "sacred duty," the minister said the "media would do great human service" if it performed its duty.

Cricket tournament Indian Premier League (IPL)'s seventh edition registered an eight per cent increase in television ratings from the previous edition. The twenty-twenty tournament averaged 8,481 television viewership in thousands (TVT) this year compared to 7,835 TVT last year on all-India basis. This was an increase of eight per cent.

The high court here on Thursday said Madhu Kapur, widow of YES Bank co-founder Ashok Kapur, would be allowed to challenge all the resolutions that might be approved at YES Bank’s annual general meeting (AGM) on Saturday.

At the AGM, shareholders will vote on seven resolutions, including the appointment of directors, which had first led Kapur to challenge Rana Kapoor, the bank’s managing director and chief executive, in court.

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