Monsoon On Schedule, To Be Normal; In Infosys, It`s Founders Vs Professionals: Pai; Sensex Snaps 2-Day Fall, Up 30 Pts

Tuesday, Apr 19, 2011 SPECIAL LEAD Click here for India Business Update Mobile Version IN INFOSYS, IT'S FOUNDERS VS PROFESSIONALS: PAI TV Mohandas Pai who decided to quit Infosys after a 17-year stint said he does not agree with founder Narayana Murthy's principle of rewarding seniority instead of picking the best person to lead the company. "What goes against me? Seniority. You are discriminated against because the founders have spent longer years," Pai said. read more LEAD STORIES MONSOON ON SCHEDULE, TO BE NORMAL The Meteorological Department has forecasted normal rains for 2011, strengthening the prospect of a good farm output. read more SENSEX SNAPS 2-DAY FALL, CLOSES 30 PTS HIGHER Sensex closed at 19,121.83 up by 30.66 points after falling for two consecutive sessions. Nifty gained 11.65 points to end at 5,740.75. read more INDIAN COS MAKE PROFIT OF RS 6 LAKH PER EMPLOYEE: STUDY Indian companies pay a salary of Rs 4.8 lakh to each of their employee on an average, but earn a profit of Rs 6 lakh per employee in return. read more TOP STORIES • Vedanta buys 11% stake in Cairn for $1.5 bn • FY11 exports beats target, up 37.5% to $245.9 bn • Plan panel targets 9-9.5% growth in 2012-17 • Oil won't go below $100 this year, says OPEC • Silver scales new peak at Rs 65,280, gold at Rs 21,775 • Fresh blow for RIL, DGH rejects two discoveries • Jaitapur bandh turns violent, mob ransacks hospital • Axiata may sell Idea stake in 3 tranches • Munjals raise Rs 900 cr by pledging shares • SBI to hike lending rates by 25 bps • SEBI to have own forensic lab to check frauds • Fake pilots case: DGCA removes senior official • Govt allows 500,000 tonnes of sugar exports • PE investments, M&A at $29 bn in Jan-Mar • Narrow escape for SpiceJet passengers as tyre bursts • 17 killed in chopper crash in Arunachal Pradesh • Samsung to sell hard-disk unit to Seagate for $1.4 bn • Apple sues Samsung over iPhone, iPad design • Walmart to buy India-born founders' social media site • Indian-American Siddhartha Mukherjee wins Pulitzer more stories TOP VIDEOS April Inflation Seen At Less Than 8%: Kashik Basu, Chief Economic Advisor Disinvestment Is Likely During Current Financial Year: HS Mann, CMD, MMTC There Are Two Watch Words Out There Now For Global Markets - The First One Is Inflation And The Other One Is Debt: Richard Gibbs, Global Head, Macquarie Securities Be Cautious, Sensex May Drift To 17,500 In Near-Term: Parul J Saini, Executive Director, RBS Asia Securities AT A GLANCE BSE 19121.83 +30.66 NSE 5740.75 +11.65 TURNOVER Rs. 157,926 cr BSE CASH Rs. 13,127 cr NSE CASH Rs. 10,787 cr NSE F&O Rs. 134,012 cr BULLION GOLD 21777 -58 SILVER 63560 +66 CRUDE NYMEX 102.25 -0.08 BRENT 119.87 -1.74 FOREX $ / Re 44.45 0 £ / Re 72.476 +0.56 € / Re 63.568 +0.62 EVENTS 20 April 2nd National Manufacturing & Innovation Summit, The Lalit, New Delhi 21 April Public Accounts Committee Meeting On 2G Scam To Decide On Witnesses Finance Ministry & Industry Chambers Meet To Discuss Revised Takeover Code Reliance Industries Board Meet To Discuss Financial Sector Strategy 21 April 7th Marketing Conclave, ITC Lower Parel, Mumbai Planning Commission Meeting To Discuss 12th Five-Year Plan 23 April Second Phase Of Polls To West Bengal Assembly EXPERT VIEWS "What goes against me? Seniority. You are discriminated against because the founders have spent longer years. I know the law, so long as the founders are there, professionals who are late entrants will not get a chance." Mohandas Pai Board Member, Infosys "(On Jaitapur nuclear plant) Shiv Sena has no leg to stand on... sometimes they make me Khalnayak and sometimes a hero. This is the same Shiv Sena that had as Opposition said they would throw Enron into the Arabian Sea. Later they gave them complete clearance. It is wrong of Shiv Sena to blame me." Jairam Ramesh Environment Minister "Monsoon rainfall for the country as a whole is most likely to be normal. There is very low probability for the seasonal rains to be deficient." Pawan Kumar Bansal Earth Sciences Minister WATCH OUT Young Turks Dream Decade This week on Young Turks Dream Decade we go On The Road to meet Naveen Tewari of InMobi, the world's second largest mobile ad network. On Young Turks Tutorial, catch the founders of Level 10 Studios, a comic book start up, in a master class with Mahesh Murthy of Seedfund. And on YT Buzz reconnect with Fahad Moti Khan of Technology 9 Labs as he click starts his second innings with photography. SHOW TIMINGS Wed 7:30 pm