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Baby millionaire! Grandad Narayana Murthy gifts Infosys shares worth Rs 240 crore to four-month-old

1 month 3 weeks ago
Four-month-old Ekagrah Rohan Murty has become a millionaire even before learning how to walk on two legs as his grandfather and billionaire NR Narayana Murthy has gifted him 15 lakh Infosys shares worth over Rs 240 crore.Regulatory filings show that 77-year-old Murthy gifted 15 lakh shares or 0.04% stake to his grandson in an off-market transaction last Friday. After the gift was executed, the Infosys co-founder's holding in the IT company fell to 0.36%.At today's price of Rs 1,620 on BSE in the afternoon, Ekagrah has amassed a fortune of Rs 243 crore.Ekagrah was born to Infosys Founder NR Narayana Murthy's son Rohan Murthy and daughter-in-law Aparna Krishnan on November 10 last year in Bengaluru.Rohan has a Ph.D. in computer science from Harvard University and runs Boston-headquartered software firm Soroco. Aparna, on the other hand, heads Murty Media.Ekagrah is the third grandkid of Narayana Murthy and wife Sudha Murthy who took oath as a Rajya Sabha MP last week.Also read | IT services companies may roll out 8.4-9% salary hikes this yearBengaluru's iconic couple have two other grandchildren - Krishna and Anoushka - daughters of Akshata Murty and British Prime Minister Rishi Sunak.At the end of the December quarter, Akshata owned 1.05% stake in Infosys, Sudha 0.93% and Rohan 1.64%. Murthy had started Infosys way back in 1981 along with six other co-founders. Besides Ashok Arora, who left the software services exporter in 1989 to settle down in the US, all the co-founders are now billionaires.

FLY91, India's newest airline, hits the skies

1 month 3 weeks ago
FLY91, the newest addition to the India's aviation industry, on Monday started its commercial services. The airline's inaugural flight took off from Goa's Manohar International Airport at 07:55 am, bound for Kempegowda International Airport in Bengaluru. Additionally, on its maiden day of operations, Fly91 also successfully flew its first route to Sindhudurg from Bengaluru.FLY91 is initially flying between Goa, Hyderabad, Bengaluru, and Sindhudurg. They will later add flights to Agatti, Jalgaon, and Pune in April. They'll operate flights between Goa and Bengaluru on Monday, Friday, and Saturday, with a similar schedule for Bengaluru-Sindhudurg routes. Additionally, they'll fly between Goa and Hyderabad, as well as Sindhudurg and Hyderabad twice a week."We at FLY91 are incredibly proud to launch our inaugural commercial flight, symbolizing our commitment to connecting India in a way that has never been done before. This inaugural flight is not just about reaching a destination; it's about taking flight with the dreams and aspirations of a nation,” said Manoj Chacko, Managing Director and Chief Executive Officer.FLY91 is a regional carrier and it seeks to enhance air connectivity from tier 2 and tier 3 towns across India.FLY91's debut in the world's third-largest civil aviation market comes at a time when the Asian country is aiming to ascend as the foremost aviation market globally by the decade's end, despite challenges faced by some airlines.However, Fly91 aims to get into a segment which the government has been trying to push, especially via its regional connectivity scheme called UDAN.FLY91 has been assigned its initial routes as part of the government's Regional Connectivity Scheme (RCS) UDAN. These routes encompass destinations such as Sindhudurg, Jalgaon, and Nanded in Maharashtra, as well as Agatti in Lakshadweep, alongside prominent business and leisure hubs like Bengaluru, Goa, Hyderabad, and Pune.The airline has introduced a special fare of Rs 1,991 (all inclusive). This inaugural offer applies to all FLY91 routes. FLY91 will also allow changes and cancellations of flight tickets for a nominal fee of Rs 499 per passenger per sector for a limited time.
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