Software stocks have opened the day on a mixed note with Infosys Ltd and Wipro Ltd leading the gains. However, Info Edge Ltd and Moser Baer India Ltd were leading the losses. Infosys Ltd has appointed former SAP chief technology officer Vishal Sikka as the first outsider CEO of the company. As per a company statement, Dr Sikka will be inducted on Infosys board on June 14 and will take over as the CEO and MD from current chief SD Shibulal on August 1, 2014. This puts to rest uncertainty and speculation regarding the leadership at country's one of the top IT companies. It is to be noted that the company has been receiving some bad press lately because of the exits of several high-ranking executives. In a separate development, the company's founder Mr. Narayana Murthy will step down as executive chairman on June 14 2014. Mr Murthy had returned from retirement in June 2013 to lead the company.
Mining stocks have opened the day mainly in the red with NMDC Ltd and Gujarat NRE Coke Ltd leading the losses. Coal India Ltd has decided to amend its memorandum of association (MoA) for entering into the business of producing fertilizers and chemicals using coal gas. This will allow company to produce, process, store, distribute, sell, import, export or otherwise deal in gas and other byproducts arising from coal gasification. Further, the company will be allowed to use them to produce ammonium nitrate, fertilizers and associated products. As per a company official, through the amendment, the company will also be allowed to install and operate such plant in the country and overseas.