&w=3840&q=100)
Ganesh Mani to take charge as Switch India CEO, effective September 1
The company said that its current CEO, S Mahesh Babu, has decided to step down from his position to pursue opportunities outside the group, effective August 31, 2025.
The new appointment is in line with the strategy for Switch India to leverage the strengths of Ashok Leyland to optimise its operational costs while maintaining focus on developing best-in-class battery electric buses and light commercial vehicles, a company statement said.
Dheeraj G Hinduja, chairman, Switch Mobility, said, 'We would like to place on record our appreciation to Mahesh for his significant contributions during his tenure with us. Having achieved EBITDA breakeven in FY25, Switch India is now poised to scale up the business and achieve positive PAT status shortly. Ganesh Mani, with his experience in operational excellence and leading large-scale transformation initiatives, will take Switch India to the next phase of profitable growth.'
Switch now offers a competitive range of electric commercial vehicles. In the light commercial vehicle segment, there is the 1.25-tonne IeV3 and the 1.75-tonne IeV4, both commercially available through select Ashok Leyland LCV dealers. In the electric city bus segment, there are 12-metre buses in standard and low-floor formats, offering a range of up to 200 km without a recharge. On the back of a strong order book of 1,500+ buses, Switch India hopes to double its top line in FY26.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Standard
a day ago
- Business Standard
Ashok Leyland's total sales rises 3% YoY in June 25
Ashok Leyland reported a 3% rise in total commercial vehicle sales to 15,333 units in June 2025 from 14,940 units sold in June 2024. The companys total domestic sales fell 1% YoY to 14,184 units in the month of June. Domestic sales of medium and heavy commercial vehicles (M&HCV) declined 2% to 8,869 units, while sales of light commercial vehicles (LCV) rose 2% to 5,315 units in June 2025 compared to June 2024. Ashok Leyland is engaged in the manufacture and sale of a wide range of commercial vehicles. The company also manufactures engines for industrial and marine applications, forgings, and castings. The company reported a 38.4% year-on-year rise in standalone net profit at Rs 1,245.87 crore for the quarter ended March 2025, compared to Rs 900.41 crore in the same period last year. Revenue from operations rose 5.68% to Rs 11,906.71 crore posted in the fourth quarter of FY25 as against Rs 11,266.66 crore posted in Q4 FY24. The counter rose 0.26% to Rs 251.70 on the BSE.


Economic Times
a day ago
- Economic Times
Stocks in news: Federal Bank, Apollo Hospitals, JK Cement, HCL Tech, Bharat Forge
Markets experienced a slight dip after a recent surge, with several companies making headlines. Apollo Hospitals is set for a restructuring, while Kalpataru Projects secured new orders. Federal Bank approved fundraising plans, and Hindustan Copper signed an MoU with Coal India for mineral exploration. Additionally, HCLTech announced a collaboration with OpenAI to boost AI adoption. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Markets began the week on a soft note, slipping nearly half a percent as they took a breather following the recent surge. In today's trade, shares of Federal Bank Bharat Forge among others will be in focus due to various news Hospitals plans major restructuring, approved the demerger, mergers and new listing of Apollo Projects announced securing new orders worth Rs 989 crore in the power transmission and distribution (T&D) arm Green Energy has begun commercial electricity supply of an additional 100.02 MW from its 1,000 MW solar power project at Bikaner in Rajasthan from Bank board approved fundraising plans through equity and debt instruments up to Rs 6,000 croreCG Power opened its qualified institutional placement (QIP), indicative total issue size at Rs 3,000 crore, according to Copper signed an MoU with Coal India for Copper, critical minerals Forge board approved the defence business transfer to Kalyani Strategic Systems arm via Optionally Convertible Redeemable Preference Shares (OCRPs) for Rs 500 croreESAF Small Finance Bank transfered its NPA and technically written-off loans worth Rs 733 crore to an ARC for Rs 73.34 Industries raised its take in arm Godrej Capital to 90.89% from 89.48%with an investment of Rs 285 Minda completed the acquisition of 1.69 crore shares (49.90% stake) of UnoMinda EV Systems from FRIWO GmbH for Rs 141.27 and OpenAI announced collaboration to accelerate enterprise-scale AI adoption.S Mahesh Babu resigned as the CEO of Switch Automotive Mobility with effect from August 31. Ganesh Mani takes additional Cement declared a final dividend of Rs 15 per share for Fin Homes appointed Abhishek Mishra as CFO for three years with effect from June 30.


News18
a day ago
- News18
Stocks To Watch: Federal Bank, JK Cement, HCL Tech, Bharat Forge, BEL, And Others
Last Updated: Stocks to watch: Shares of firms like Federal Bank, JK Cement, HCL Tech, Bharat Forge, BEL, and others will be in focus on Tuesday's trade Stocks to Watch on July 1, 2025: Markets began the week on a softer note, slipping nearly half a percent after a strong rally last week. On Tuesday, several stocks are likely to remain in focus due to key corporate developments, including Federal Bank, Apollo Hospitals, JK Cement, HCL Tech, Bharat Forge, and others. CG Power and Industrial Solutions: Opened its QIP issue on June 30 with a floor price of Rs 679.08 per share. Sources suggest the issue size may be around Rs 3,000 crore. Kalpataru Projects International: Secured new international orders worth Rs 989 crore in the T&D segment. FY26 total order intake now stands at Rs 7,150 crore. KSB: Received an order from L&T for 15 sets of boiler feed pumps for NTPC's supercritical power plants at Gadarwara and Nabinagar. NCC: Bagged building division orders worth Rs 1,690.5 crore in June. Bharat Electronics (BEL): Received fresh orders worth Rs 528 crore, including radars, EVMs, jammers, shelters, and control centres. Godrej Industries: Invested Rs 285 crore more into Godrej Capital, increasing its stake from 89.48% to 90.89%. Ashok Leyland: S Mahesh Babu resigned as CEO of Switch Mobility effective August 31. COO Ganesh Mani will take over from September 1. Astec Lifesciences: Board approved a Rs 249.35 crore rights issue at Rs 890 per share in a 1:7 ratio. Opens July 14 and closes July 28. Bank of India: Cut MCLR by 5 bps across tenures, effective July 1. JK Cement: Declared a Rs 15 per share dividend for FY25. Can Fin Homes: Appointed Abhishek Mishra as CFO for three years, replacing Interim CFO Prashanth Joishy. Samvardhana Motherson International: Completed acquisition of 14.29% in Motherson Technology Services Kabushiki Gaisha, making it a wholly owned step-down subsidiary. Yes Bank: Shweta Jalan resigned as Non-Executive Director; D Shivakumar appointed as Additional Director representing Verventa Holdings. Bharat Forge: Approved transfer of defence business to subsidiary Kalyani Strategic Systems via Rs 500 crore OCRPs. Revised acquisition cost of AAM India Manufacturing to Rs 770 crore from Rs 544.5 crore due to higher cash availability. ESAF Small Finance Bank: Sold NPAs worth Rs 733.4 crore to an ARC for Rs 73.34 crore. Uno Minda: Completed acquisition of 49.90% stake in UnoMinda EV Systems from FRIWO GmbH for Rs 141.27 crore. Federal Bank: Approved fundraising via equity and debt instruments up to Rs 6,000 crore. SJVN: Subsidiary SJVN Green Energy commissioned 100.25 MW from the Bikaner Solar Project, with 501.02 MW operational and the rest expected soon. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.