Business News

• Citigroup’s Kumar to join Barclays Capital
• Samghvi slated to join Syndicate Bank
• Ranbaxy Names Banerjee new CFO
• Tata Power targets projects outside India

Citigroup’s Kumar to join Barclays Capital

Pramod Kumar, managing director, India investment banking, Citi group Global Markets India Pvt. Ltd, has quit to join as managing director, investment banking, for Barclays Capital the investment banking arm of Bar clays Bank Plc in India.

This is the fourth big ticket exit from the US investment bank after Vikas Khattar, Keshav Sanghi and Nalin Nayyar quit recently. When contacted, Kumar declined to comment.

Samghvi slated to join Syndicate Bank

Bank of Maharashtra executive director M.G. Sanghvi is slated to take over as chairman of Bangalore based Syndicate Bank before the end of the current fiscal. “I have been verbally intimated by the finance secretary some time back, but the official letter has not come. The present chairman retires in February and I will take over after that”, Sanghvi said.

Ranbaxy Names Banerjee new CFO

Ranbaxy Laboratories Ltd India's top drug maker by sales, said Indrajit Banerjee joined the company as its chief financial officer (CFO) on Wednesday.

Ranbaxy is controlled by Japan's Daiichi Sankyo Co. Ltd.

Tata Power targets projects outside India

Tata Power Co. Ltd, part of the diversified Tata group, is looking for power projects outside the country to sustain its growth, chairman Ratan Tata said on Wednesday.

The overseas investment push by Indian companies is increasingly spurred by difficulty finding attractive opportunities in Asia's third largest economy.

“We are also tendering quite actively on power projects outside India, where there is great demand, for growth”, Tata told an annual meeting of shareholders.

Tata did not elaborate on the firm's overseas plans.

(Source-mintlive.com)