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Ashok Vemuri Appointed New CEO Of IGATE

Updated: October 5, 2013 4:37 pm

Ashok Vemuri has been appointed iGate’s new chief executive. He has replaced Phaneesh Murthy. Both Phaneesh and Ashok have studied at Indian Institute of Management, Ahmedabad. They both are associated with iGate for a long time and were groomed by NR Narayan Murthy. They both are regarded as ace salesman in the industry. Ashok Vemuri has deep domain knowledge and slick persuasive skills, which are apparently in tune with iGate’s thinking about challenging the ongoing status quo in the software services industry. An astute deal-maker with his finger on the nerve of the software industry, his particular strength is in the financial services sector, which provides maximum business to IT companies. For iGate, which relies mainly on the financial industry, Ashok Vemuri, a former executive at Bank of America and Deutsche Bank, is the perfect man to serve its needs.

Narayan Health On Expansion Spree

Narayan Health, one of the top five hospital chains in India, is trying to tap PE funds for its expansion plans. It is hoping to draw up to $ 40 million. The hospital group plans to expand in the west and northern parts of the country and also wants a foothold in the foreign market. The group’s business model is based on a scale of operations. It plans to add 1,000 more beds this fiscal year and by 2017, the number is expected to grow to between 12,000 beds and 15,000 beds from the current level of 6,900 beds. With JP Morgan and Pinebridge investing $100 million in the group for a 23 per cent stake, in 2008, the group hopes to raise $40 million to fund its national and international expansion ambitions.

RITES Registers Highest Turnover

RITES, a Miniratna Schedule ‘A’ infrastructure consultancy company under Ministry of Railways, has recorded highest ever turnover of Rs 1076 crore in the financial year 2012-13. It also registered the 15 per cent rise in the turnover, from Rs 934 crore for the financial year 2011-12. It also registered highest ever profit after tax of Rs 245 crore for the current year. This registered around 49 per cent growth from the previous financial year, which was around 164 crore.

BK Modi Among Singapore’s 50 Richest

Forbes Singapore’s 50 richest list for 2013 now includes Spice Global Chairman Dr. BK Modi. He is ranked at 27th position in the overall rich list of Singapore with net worth of $850 million. He was selected on various considerations such as the overall performance, technological innovation and expertise in various fields. Dr. BK Modi became a citizen of Singapore after he moved his headquarters to island state. He has invested majority of assets in real states in major cities like New York, London along with Singapore. He has also invested in industries like telecommunications, healthcare, hospitality and financial services.

Seminar On Managing Biomedical Waste

Pushpanjali Crosslay Hospital, Vaishali, in association with Toxic Links and the Indian Medical Association organized a one-day seminar on the issues of improving compliance of the Biomedical Waste (Management and Handling) Rules, 1998 in the State of Uttar Pradesh. The seminar aimed at sensitizing the healthcare facilitators, policy makers and other stakeholders about “Issues and Challenges in Managing Biomedical Waste and Elimination of Mercury from the Healthcare Sector of Uttar Pradesh”. The conference also highlighted the urgent need in adopting and implementing the corrective steps on the toxicity of Mercury and the global movement towards Mercury free healthcare sector. The conference was inaugurated by dignitaries including Dr. Vijay Agarwal, Executive Director, Pushpanjali Crosslay Hospital, Mr. Ravi Agarwal, Director, Toxic Links, representatives from CPCB and NABH, and Doctors/staff from various Hospitals, across UP.

Kumar Mangalam For ‘Debu’ Bhattacharya’s Continuation

Hindalco Chairman Kumar Mangalam Birla wants Debnarayan ‘Debu’ Bhattacharya to stay on as Hindalco managing director and vice chairman of Novelis, another company of Birla group. Although past the 62-year retirement age for senior directors at the Birla Group of companies, he is retained for his intensive leadership style and his ability to lead from the front. Under Bhattacharya’s leadership, Hindalco turned itself into a global corporation with a steep jump in turnover to Rs79,705 crore from Rs 6,400 crore over the last 10 years. Its net profit rose to Rs3, 026.2 crore in 2012-13 from Rs 670.5 crore, a decade ago. Already given a five-year extension in 2008, he will lead Hindalco for another five years, with shareholders and the board approving his reappointment.

Re-Dedication Of Radar Facility At Trivandrum Airport

The new RL-2000 ASR (Airport Surveillance Radar) co-located with MSSR-1 RSR (Route Surveillance Radar) is supplied and installed at Thiruvananthapuram International Airport by M/s ELDIS, Pardubice, Czech Republic. Airports Authority of India has undertaken the project of replacing the eighteen-year-old ASR and MSSR with the new state-of-art technology radar at a cost of 1.60 lakh Euros. It is a part of AAI’s continuing endeavour of modernising Air Navigation Services at various locations in India. In the picture, Oommen Chandy, Chief Minister of Kerala, is unveiling the plaque on the occasion of inauguration of upgraded radar facility at Trivandrum International Airport. Also seen in the picture are KC Venugopal, MoS(CA), V Somasundaram, Member(ANS), AAI and other dignitaries.

IIMB To Host Sixth Edition Of Eduniversal World Convention

The Indian Institute of Management Bangalore (IIMB) will host the sixth edition of the Eduniversal World Convention on October 9-12, 2013. The programme will be inaugurated by Professor Devanath Tirupati, Director, IIMB and Martial Guitte, CEO and founder of Eduniversal. The event will include panel sessions, thematic tours and awards ceremony. Panel session will see deliberations by Professor Philip, President, Xavier Indian Institute of Management and Entrepreneurship, Bangalore; Dr. Aneeta Madhok, President, Open Spaces Consulting, India; Professor Myasoedov, President of Russian Association of Business Education, Russia and others. Three business schools in the nine geographical zones will be awarded by Eduniversal International Scientific Committee with a special trophy.

NTPC: Setting New Benchmarks

NTPC achieved highest ever capacity addition of 4,170 MW, including 1,000 MW through its joint venture projects, to provide further push to the growth momentum gained over the previous two years. With 18.4 per cent of India’s total installed capacity, NTPC accounted for 27.4 per cent of India’s total power generation during 2012-13 underlining its consistently high operational efficiency. In the photo, Dr. Arup Roy Choudhury, CMD, NTPC, is addressing the shareholders at the 37th Annual General Meeting of the company in New Delhi. All the Directors of the company were present on the occasion.

SVC Bank Wins Cio100 Award 2013

SVC Bank wins CIO100 Award for IT initiatives. CIO magazine awarded SVC Bank with CIO100 Award 2013 for IT implementations. The bank was also awarded Green Crusader Award 2013 for green IT initiatives. CIO magazine accredits Chief Information Officers and IT leaders from leading Indian companies, for being innovative and imaginative in the IT deployments in difficult economic situations. The award was presented to Mr. Ravikiran Mankikar (CGM-IT) by Mr. Louis D’Mello President and CEO of IDG Media.

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