Sensex closed at 19,386.- Infosys Q4 Numbers Below Market Estimates; Mohandas Pai, K Dinesh Quit Infy Board; Sensex Dips 310 Pts

Friday, Apr 15, 2011 Click here for India Business Update Mobile Version LEAD STORIES INFOSYS Q4 NET UP 17% BUT BELOW MARKET ESTIMATES Infosys Q4 numbers was well below street estimates as it reported a net profit of Rs 1,818 crore up, while revenue was up 22% to Rs 7,250 crore. read more MOHANDAS PAI, K DINESH QUIT INFOSYS In a major setback to Infosys, Mohandas Pai, a board member resigned and K Dinesh, founder member chose to retire. read more SENSEX DIPS 310 PTS ON WEAK INFY RESULT, INFLATION NOS Sensex closed at 19,386.82 on high inflation figures and weak Q4 Infosys results. Nifty dropped by 86.95 points to end at 5,824.55. read more TOP STORIES • March inflation above RBI target; food index at yr low • 2G scam: CBI seeks detention of 5 corporate exectives • Infosys stock sees biggest fall in 2 yrs; plunges 10% • Gold at all-time high of Rs 21,710/10 gm • L&T plans to sell its electrical biz for $3 bn • SC to Satyam: Give 617 cr guarantee in tax dispute • Black money case: Govt not to make names public • RIL 'highly complacent' on KG-D6 prodn targets: DGH • Oppn to Jaitapur N-plant hardens after Japan crisis • Everonn surges 9% on Rs 15,000-cr order reports • Promoter ups Indiabulls Real Estate stake to 25.57% • Indian pharma industry to reach $20 bn by 2015 • Aston Martin enters India with 10 new models • Infosys broke visa rule? U.S. Senator wants probe • SC grants bail to civil right activist Binayak Sen • India, China trade to touch $60 bn this yr: FIEO • GSM players add 14.49 mn users in Mar; totals 570 mn • PAC split over 2G spectrum scam probe • Australia launches Hindi website for Indian students • World's oldest man Walter Bruening dies at 114 more stories TOP VIDEOS I Feel Sad About Leaving Infosys But Need To Take Up New Opportunities: Mohandas Pai, Board Member, Infosys Mohan (Mohandas Pai) Has Been Looking At A Larger Canvas For His Impact On Not Just Infosys But On Society: Kris Gopalakrishnan, MD & CEO, Infosys Tatas Did Not Enjoy Enormous Wealth, Everything Was Put Into Trust: Ratan Tata, Chairman, Ratan Tata AT A GLANCE BSE 19386.82 -310.04 NSE 5824.55 -86.95 TURNOVER Rs. 145,948 cr BSE CASH Rs. 3,646 cr NSE CASH Rs. 14,994 cr NSE F&O Rs. 127,308 cr BULLION GOLD 21515 +24 SILVER 62492 +988 CRUDE NYMEX 102.25 -0.08 BRENT 122.42 +0.42 FOREX $ / Re 44.26 -0.24 £ / Re 72.299 -0.08 € / Re 63.849 -0.24 EVENTS 17 April 10-Member Joint Committee's First Meeting On Lokpal Bill 18 April First Phase Of Polls To West Bengal Assembly 18-19 April 2nd Annual Conference On Data Centres For Infrastructure Sectors, Hyatt Regency, New Delhi 19-20 April Conference On Gas For Power Generation, The Imperial, New Delhi 21 April Public Accounts Committee Meeting (PAC) on 2G scam to decide on witnesses EXPERT VIEWS "We have had transitions in the past...these things are part and parcel of a growth of a corporate and what is good is that we have the leadership required to manage these transitions." Kris Gopalakrishnan MD & CEO, Infosys "We have grown this company, from the time when it was $10 mn in 1994, to a $6 bn company, globally dominating the top 10. It's time to go to the top 3 in the next 5 years. And for that I think, we need a different set of people because we can do it, but leadership has to renew itself...So I think it was the right time for me to step down, so others can come up." Mohandas Pai Board Member, Infosys "One year ago my concern was we may have a recovery without jobs. It would be too much to say it is a jobless recovery, but it is certainly a recovery with not enough jobs." Dominique Strauss-Kahn Managing Director, IMF WATCH OUT Beautiful People Former Union Minister and Member of Parliament from the Thiruvananthapuram constituency in Kerala, Shashi Tharoor speaks to Anuradha SenGupta about the assembly elections and his role as the star campaigner for the Congress-led United Democratic Front. SHOW TIMINGS Sat 1:30 pm Sun 1:30 pm Sun 8:30 pm