Business

Country's second largest software services firm Infosys has raised salaries of its employees in the country by 6-7 per cent and by 1-2 per cent for onsite workers, effective April 1.

Infosys has declared a final dividend of Rs 43 per share for the year 2013-14.

About 1278 shares have advanced, 1415 shares declined, and 166 shares are unchanged.

Ratan Tata thanked the British government for awarding him one of its highest civilian honours, the Knight Grand Cross.

Raghuram Rajan said that India's export sector could be hurt if the rupee strengthened to 50-45 to the dollar.

The Nifty rose by 31.50 points, or 0.47 per cent, to record closing high of 6,752.55.

Some multinational companies might also extend additional perks to their senior level executives.

The company said it will pay Rs 2500 crore within three working days after the proposal is accepted by the court.

The government held 20.7 per cent in Axis Bank, India's third-largest private-sector bank by assets.

With 40 stores in 17 months of its operations, India is the fastest growing market in the history of the Seattle-based iconic American coffee chain Starbucks, according to a company statement.

Wipro lost 3 per cent. Bharti Airtel, Axis Bank and HDFC twins were other laggards in the Sensex.

Among the gainers in the Sensex were M&M, ONGC, HDFC Bank, Coal India and Hero MotoCorp.

India is likely to grow by 5.6 per cent in 2014-15 against a projected growth of less than 5 per cent in the current fiscal, a report by India Ratings and Research has said.

The 30-share BSE Sensex closed at 21513.87, up 237.01 points or 1.11 per cent after hitting an intraday high of 21525.14.

The 50-share NSE index Nifty crossed key 6,300 levels by adding 30.70 points, or 0.49 per cent, to end at 6,328.65.

According China-based research firm Hurun's 2014 global rich list, Mukesh Ambani was ranked 41st in the list.