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
REUTERS SHOWCASE
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
ACC, Ambuja up; tech fees to parent lower than expected
Track Markets: BSE Sectoral Indices
Track and analyse performance of all BSE sectoral indices and other global indices on a single page. Full Coverage
A labourer prepares chewing tobacco inside the wagon of a train as his colleague unloads cement sacks at a yard in Kolkata June 25, 2012.
Credit: Reuters/Rupak De Chowdhuri/Files
Reuters Market Eye - Shares of ACC Ltd (ACC.NS) and Ambuja Cements Ltd (ABUJ.NS) gain after shareholders at each of the cement makers separately approved paying technology fees to controlling stakeholder Holcim Ltd (HOLN.VX) of 1 percent of net annual sales.
The approvals remove an uncertainty that had been weighing on the Indian companies, as some investors had feared a protracted process over a decision that had been unpopular with shareholders.
ACC gains 2.4 percent while Ambuja Cements is up 0.5 percent.
Holcim holds a 50.3 percent stake in ACC and 50.6 percent in Ambuja Cements.
(Reporting by Abhishek Vishnoi)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters