Latest news with #SMaheshBabu
Entrepreneur
17 hours ago
- Automotive
- Entrepreneur
Switch Mobility CEO Mahesh Babu Steps Down; Ganesh Mani to Take Charge
According to the company, this step is aimed at optimizing costs while maintaining momentum in its electric vehicle development, particularly in battery-electric buses and light commercial vehicles. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Switch Mobility, CEO S Mahesh Babu has announced his resignation, effective August 31, 2025. The company confirmed the transition, stating that Babu is stepping down to pursue opportunities outside the Hinduja Group. His responsibilities will be assumed by Ganesh Mani, currently the chief operating officer at Ashok Leyland, who will take additional charge as CEO of Switch Automotive Mobility Limited (Switch India) beginning September 1. The leadership transition comes at a pivotal moment for Switch India, which recently achieved EBITDA breakeven for FY25 and is positioning itself for further financial growth. "We would like to place on record our appreciation to Mahesh for his significant contributions during his tenure with us," said Dheeraj G Hinduja, chairman of Switch Mobility, in a release. Switch India's move to bring Mani onboard aligns with a broader strategy to deepen operational integration with parent company Ashok Leyland. According to the company, this step is aimed at optimizing costs while maintaining momentum in its electric vehicle development, particularly in battery-electric buses and light commercial vehicles. Mani brings with him a reputation for operational efficiency and managing large-scale transformations, qualities that the company hopes will support its next phase of expansion. "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," Hinduja added. Switch Mobility, a joint initiative between Ashok Leyland and British manufacturer Optare, is focused on zero-emission commercial transportation. Its current product range includes the 1.25-tonne IeV3 and 1.75-tonne IeV4 electric light commercial vehicles, sold through select Ashok Leyland LCV dealers. In the electric bus segment, the company offers 12-meter models with a range of up to 200 kilometers on a single charge. With over 1,000 electric buses and another 1,000 electric LCVs already in operation, the company claims its vehicles have collectively covered over 150 million kilometers, offsetting more than 100,000 tons of CO₂ emissions. Backed by a strong order book of more than 1,800 buses, including 1,500 in India alone, Switch India projects a doubling of its topline revenue in FY26.
News18
19 hours ago
- Business
- 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.
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Business Standard
20 hours ago
- Business
- Business Standard
Stocks to Watch Today, July 1: Auto, Ashok Leyland, Ireda, Vodafone, BEL
Stocks to Watch Today, Tuesday, July 1, 2025: Equity markets in India are looking to start the trading session on a muted note on Tuesday, following a healthy rally last week. Markets closed lower on Monday and may continue to exhibit volatility today on account of Sensex weekly F&O expiry, lower-than-expected industrial production (IIP) at 1.2 per cent in May 2025, and mixed global cues. Investors, now, await India, the UK, the US, and China's Manufacturing PMI data for June, scheduled to be released through the day. At 7:10 AM, GIFT Nifty futures were at 25,635 level, up 21 points. Globally, Japan's Nikkei 225 was down 1.03 per cent, while South Korea's Kospi index rose 1.67 per cent. Hong Kong markets are closed for a public holiday. Overnight, the broad-based S&P 500 index gained 0.52 per cent and ended above 6,200 for the first time. Nasdaq Composite advanced 0.47 per cent, reaching fresh all-time highs. The Dow Jones Industrial Average climbed 0.63 per cent. Meanwhile, here is a list of stocks to watch today: New listings: Several shares will debut on Dalal Street today, following the completion of their initial public offerings (IPOs). These include Kalpataru, Globe Civil Projects, and Ellenbarrie Industrial Gases in the mainboard category, and Shri Hare-Krishna Sponge Iron, Icon Facilitators, Abram Food, and AJC Jewel Manufacturers in the SME category. Ireda share price: Sharing its business update for the April-June quarter of the financial year 2025-26 (Q1FY26), Indian Renewable Energy Development Agency (Ireda) said its sanctioned loans stood at ₹11,740 crore, clocking a growth of 29 per cent year-on-year (Y-o-Y). Its disbursed loans stood at ₹6,981 crore, up 31 per cent Y-o-Y with a total loan book of ₹79,960 crore, up 27 per cent Y-o-Y. IndiGo, SpiceJet share prices: Shares of airline firms, InterGlobe Aviation and SpiceJet, will be in focus on Tuesday after the Centre raised jet fuel priced by ₹6,271/kl to ₹89,344.05/kl in Delhi. Auto shares: Shares of automobile companies will be in focus today as they are scheduled to release their monthly auto sales update for June 2025. Vodafone Idea share price: Vodafone Idea, on Monday, said it will roll out 5G services in 23 cities in a phased manner, marking a significant step in the telecom operator's 5G expansion journey. The cities include Ahmedabad, Agra, Aurangabad, Kozhikode, Nashik, Dehradun, Indore, Jaipur, Kolkata, Lucknow, Meerut, Madurai, Malappuram, Nagpur, Pune, Rajkot, Sonepat, Surat, Siliguri, Trivandrum, Vadodara, and Vizag. Ashok Leyland share price: Ashok Leyland shares will be in focus today following the news of S Mahesh Babu's resignation from the company. The CEO of Switch Automotive Mobility Ltd, has decided to step down from his position to pursue opportunities outside the Group effective August 31, 2025. Further, Ganesh Mani, Ashok Leyland's chief operating officer (COO), will take additional charge as CEO - Switch Automotive Mobility Limited (Switch India) from September 1, 2025. Bharat Electronics share price: Bharat Electronics (BEL) has announced a new order win worth ₹528 crore. In a stock exchange filing on Monday, BEL said the state-owned defence company has secured additional orde₹worth ₹528 crore since the last disclosure on June 20, 2025. Major orde₹received include radars, communication equipment, EVMs, jammers, shelters, control centre, spares, services etc. Bikaji Foods International share price: Bikaji Foods International said its Scheme of Amalgamation with Vindhyawasini Sales Private Limited is now operative and effective. Kalpataru Projects share price: Kalpataru Projects International has secured work orde₹worth ₹989 crore in the power transmission and distribution (T&D) segment in the overseas market. Federal Bank share price: Federal Bank's stock will be under scanner as its Board, which met on June 30, 2025, considered and approved proposals to raise Tier 1 Capital either through rights issue, private placement, Preferential Issue, Further Public Offer (FPO), Qualified Institutional Placement (QIP), Global Depository Receipts (GDR), American Depository Receipts (ADR), Foreign Currency Convertible Bonds (FCCB) or through any other permissible mode. The Board also approved a plan to raise funds in Indian Currency or any other permitted foreign currency by way of issuing debt instruments. Bharat Forge share price: As a part of the company's internal restructuring, Bharat Forge has decided to enter into a definitive agreement(s) with Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of the company, for the transfer of identified assets and other related obligations of the company to KSSL on an itemised sale basis. Apollo Hospitals share price: Apollo Hospitals Enterprise has decided to spin-off its digital health, pharmacy distribution, and telehealth businesses into a new entity, NewCo, with an aim to unlock value through a direct listing. CG Power share price: CG Power and Industrial Solutions shares will be in focus today after the company launched its Qualified Institutional Placement (QIP) programme to raise up to ₹3,000 crore at a floor price of ₹679.08 per equity share. Prestige Estates Projects share price: Shares of the real estate company will be watched by investo₹today after it announced the launch of its new residential project – Prestige Pallavaram Gardens, on the Pallavaram–Thoraipakkam Radial Road in Chennai. With a Gross Development Value (GDV) of ₹3,350 crore, the development is poised to become one of the marquee residential communities in the region and marks the company's intent to deepen its Chennai footprint. Hindustan Copper share price: Shares of Hindustan Copper will likely react to the announcement of a Memorandum of Understanding (MoU) with Coal India. The state-run entities have agreed to jointly explore opportunities in the copper and critical minerals sectors, including potential partnerships with global firms. Hudco share price: Housing and Urban Development Corporation (Hudco) shares may see some movement after it shared its business update for Q1FY26. The public sector company said it sanctioned loans worth ₹33,904 crore (provisional) during the quarter. The company also said it achieved loan disbursements of ₹12,812 crore (provisional), up 54 per cent over loan disbursements at the end of the March 2025 quarter. Stanley Lifestyles share price: Stanley Lifestyles' Board has decided to raise prices of its products across all retail formats - 'Stanley Level Next', 'Stanley Boutique' and 'Sofas and More' - in the range of 4 per cent to 6 per cent, effective July 1, 2025. The decision has been taken to mitigate the impact of rising input/raw material costs. Bajaj Hindusthan Sugar share price: The Board of Bajaj Hindusthan Sugar has decided to tender its equity shares under the Buyback offer received from one of the group company - Lalitpur Power Generation Company Limited -- for an amount up to ₹630.80 crore. The proceeds will be utilised by the company towards payment of its outstanding dues of Optionally Convertible Debentures to the lenders. Gabriel India share price: In a stock exchange filing, Gabriel India informed investo₹about a proposed Scheme of Arrangement approved by the Board on June 30, 2025. Under the Scheme, Gabriel India will acquire Asia Investments Pvt Ltd's (AIPL) automotive undertakings, including Anchemco, which manufactures automotive fluids and adhesives, as well as AIPL's investments in Dana Anand India, Henkel Anand India, and Anand CY Myutec Automotive, which will be integrated into Gabriel India. Gabriel will issue 1,158 equity shares of ₹1 each for every 1,000 equity shares of ₹10 each held in AIPL to the shareholde₹of AIPL. KSB share price: KSB Limited has received an order from Larsen and Toubro (L&T) for the supply of Boiler Feed Pumps for NTPC's supercritical power plant projects namely Gadarwara STPP Stage-II and Nabinagar STPP Stage-II. Barbeque Nation share price: Barbeque Nation Hospitality has confirmed the completion of its acquisition of a 51-per cent stake in Willow Gourmet Private Limited (operating 'Omm Nom Nomm' ice cream). ESAF Small Finance Bank share price: ESAF Small Finance Bank has approved the sale of non-performing assets (NPAs) and technically written-off loans, worth ₹733.4 crore, to an Asset Reconstruction Company (ARC) for a consideration of ₹73.34 crore.
Time of India
a day ago
- Business
- Time of India
Stocks in news: Federal Bank, Apollo Hospitals, JK Cement, HCL Tech, Bharat Forge
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 , Apollo Hospitals , JK Cement , HCL Tech , Bharat Forge among others will be in focus due to various news developments. Apollo Hospitals Apollo Hospitals plans major restructuring, approved the demerger, mergers and new listing of Apollo Healthtech. Kalpataru Projects Kalpataru Projects announced securing new orders worth Rs 989 crore in the power transmission and distribution (T&D) sector. SJVN SJVN 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 Monday. Federal Bank Federal Bank board approved fundraising plans through equity and debt instruments up to Rs 6,000 crore Live Events CG Power CG Power opened its qualified institutional placement (QIP), indicative total issue size at Rs 3,000 crore, according to reports. Hindustan Copper Hindustan Copper signed an MoU with Coal India for Copper, critical minerals exploration. Bharat Forge Bharat Forge board approved the defence business transfer to Kalyani Strategic Systems arm via Optionally Convertible Redeemable Preference Shares (OCRPs) for Rs 500 crore ESAF SFB ESAF Small Finance Bank transfered its NPA and technically written-off loans worth Rs 733 crore to an ARC for Rs 73.34 crore. Godrej Industries Godrej Industries raised its take in arm Godrej Capital to 90.89% from 89.48%with an investment of Rs 285 crore. Uno Minda Uno Minda completed the acquisition of 1.69 crore shares (49.90% stake) of UnoMinda EV Systems from FRIWO GmbH for Rs 141.27 crore. HCL Tech HCLTech and OpenAI announced collaboration to accelerate enterprise-scale AI adoption. Ashok Leyland S Mahesh Babu resigned as the CEO of Switch Automotive Mobility with effect from August 31. Ganesh Mani takes additional charge. JK Cement JK Cement declared a final dividend of Rs 15 per share for FY25. Can Fin Homes Can Fin Homes appointed Abhishek Mishra as CFO for three years with effect from June 30.
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Business Standard
a day ago
- Automotive
- Business Standard
Ganesh Mani to take charge as Switch India CEO, effective September 1
Ganesh Mani, chief operating officer of Ashok Leyland, will take additional charge as the chief executive officer of Switch Automotive Mobility (Switch India) with effect from 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.
