New Delhi: Gurgaon-headquartered SpiceJet Ltd’s former executive chairman Siddhanta Sharma will switch camps to join InterGlobe Enterprises Ltd as executive director, corporate affairs.
InterGlobe runs budget carrier IndiGo, which was for Sharma till earlier this month, the rival budget carrier.
Sharma resigned from SpiceJet days before the three-year old carrier announced additional funding by US-based private equity investor WL Ross and Co. Llc.
At IndiGo, group managing director of InterGlobe Rahul Bhatia said in a statement on Friday, Sharma will be ”contributing significantly across our businesses.”
UltraTech, Grasim scout for coal mines overseas
Mumbai: The Aditya Birla Group is likely to buy coal mines in South Africa and Indonesia to counter rising coal prices, which have almost trebled in the past 12 months and eating into the margins of its cement companies.
“We are looking at some coal mines, with first preference being South Africa for UltraTech. At the group level, we are also trying for coal mines in Indonesia,” K.C. Birla, senior executive president and chief financial officer of UltraTech Cement Ltd, said on Friday. Ankur Relia
Ranbaxy shares down 3.26% in Friday trade
New Delhi: The shares of Ranbaxy Laboratories Ltd slid 3.26% to close at Rs437.45 per share on the Bombay Stock Exchange on Friday.
The benchmark index, Sensex, rose almost 4% to 13,635.4 points. Meanwhile, the Gurgaon-based drug maker’s managing director, Malvinder M. Singh, accused a global patented drugs maker of trying to scuttle their buyout deal with Daiichi Sankyo Co. Ltd and create uncertainty. He, however, refused to name any firm. Staff Writer
Mahesh Soneji is BSE’s chief operating officer
Mumbai: The Bombay Stock Exchange, or BSE, appointed on Friday Mahesh L. Soneji as its chief operating officer (COO), a post that has been lying vacant since May, when the BSE management asked the then COO Ashok K. Raut to resign. Soneji is a fellow member of the Institute of Company Secretaries of India and has been a member of the Chandrate committee, formed for de-listing of securities on the stock exchanges and M.R. Mayya committee, for framing model rules and bye-laws for stock exchanges. Khushboo Narayan
‘Business Today’ editor Sanjoy Narayan quits
New Delhi: Sanjoy Narayan, editor of ‘Business Today’, a business magazine published by Living Media India Ltd, has resigned. Narayan, who confirmed that his resignation had been accepted, declined to comment on mounting speculation among the Capital’s journalists that he is joining ‘Hindustan Times’, which is published by Mint’s publisher, HT Media Ltd.
‘Mint’ could not independently confirm Narayan’s next job and HT Media declined to comment.
A 26-year veteran of Indian journalism, Narayan previously worked at ‘The Telegraph’ newspaper and ‘Business World’ magazine published by the ABP Group, and ‘The Economic Times’ published by Bennett, Coleman and Co. Ltd. He has been editor of ‘Business Today’ since 2000. Staff Writer