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iGate sacks CEO Phaneesh Murthy
Outsourcing company iGate Corp said it had sacked its Chief Executive Phaneesh Murthy for not disclosing a relationship with a subordinate after investigating one of India's best-known IT executives for sexual harassment. Full Article
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PFC, REC surge on reform hopes
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Reuters Market Eye - Shares in power sector lenders such as Power Finance Corp Ltd(PWFC.NS) and Rural Electrification Corp Ltd (RURL.NS) gain on speculation the government is preparing to offer new incentives to revive stalled power projects.
"Power Finance Corp will be the biggest beneficiary of reforms in the sector," said Kishor Ostwal, CMD, CNI research.
Expectations of good earnings by peer Rural Electrification Corporation (REC)(RURL.NS) later in the day, is also seen helping the stock.
PFC shares up 5.5 percent while REC rise 4.5 percent.
(Reporting by Manoj Dharra)
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