CEO Fired
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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MARKET EYE-Indian midcap shares fall
* Indian midcap shares fall on a mix of disappointing earnings and worries about the economic outlook. * Analysts expect midcap shares to remain weak until risk sentiment improves. * Suzlon Energy Ltd falls 8.5 percent after the wind turbine maker said its quarterly net loss had widened to 11.55 billion rupees. * United Breweries (Holding) Ltd shares down 5 percent. UB Group, the parent of debt-laden Kingfisher Airlines , said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. * Voltas shares down 1.6 percent, falling for the fourth day in row, after the company's Oct-Dec net profit missed estimates on muted performance of the electro-mechanical projects business which was impacted by execution delays and Sidra project turnover booking at nil margins. (manoj.dharra@thomsonreuters.com; manoj.dharra.thomsonreuters.com@reuters.net)
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