Ambareesh Baliga will head the institutional, wealth management and the research division (institutional & retail advisory) of Way2Wealth
Ambareesh Baliga has taken over as chief operating officer at Way2Wealth. He will head the institutional, wealth management and the research division (institutional & retail advisory). Mr Baliga will be based out of Mumbai.
Mr Baliga has over 25 years of experience in the stock markets. Prior to joining Way2wealth he was with renowned institutions like Karvy and Kotak group.
Mr Ambareesh has varied experience in different facets of financial services such as corporate finance, investment banking, car finance, marketing and distribution of various financial products. He was part of Karvy's core management group and involved in formulating various business strategies. He set up their PCG business for HNI's in 2001, their institutional equity group in 2003, their PMS Desk, research and their institutional business. Karvy's foray into mutual funds was also spearheaded by Mr Baliga.
Bharat Heavy Electricals has won a contract from PowerGrid Corp along with Swedish firm ABB for supplying equipment for the construction of a transmission link
Bharat Heavy Electricals Ltd (BHEL) has won a contract from Power Grid Corporation of India along with Swedish firm ABB for supplying equipment for the construction of a transmission link.
"BHEL in consortium with ABB has won an order from PowerGrid Corporation of India Ltd for ultra high voltage multi-terminal DC transmission link," said an official statement.
The link comprises three converter terminals and a power transmission system with a built-in capacity of up to 8,000MW. The use of ultra high voltage (+ 800 kilovolt) minimises transmission losses.
The North-East Agra UHVDC link will have a capacity to transmit up to 6,000MW of clean hydroelectric power from the North-East Region of the country to Agra across a distance of 1,728km.
This transmission super highway will to a large extent ease the ever increasing power shortages in northern India.
The order value for BHEL is Rs1,590 crore. This is the largest order for BHEL in T&D sector. However, the value of the order for ABB could not be ascertained.
BHEL together with its partner ABB, Sweden, will execute the project involving system engineering, design, supply and installation of three HVDC converter stations. The first stage of the system is scheduled to be operational in 2014 and the second stage in 2015.
On Thursday, BHEL ended 2.82% up at Rs2,050.60 on the Bombay Stock Exchange, while Power Grid closed 0.46% up to Rs97.90. The benchmark Sensex gained 0.79% to 18,350.74.
Neyveli Lignite Corporation’s wind power project worth Rs312 crore in Tamil Nadu will be commissioned by early next year
The coal ministry has said Neyveli Lignite Corporation's (NLC) wind power project worth Rs312 crore in Tamil Nadu will be commissioned by early next year.
"....50MW wind farm project......to go on steam by 31 March 2012," the coal ministry said in on its website.
The ministry, in its strategic plan documents for another five starting next financial year, said that the order for the wind farm project will be placed by 30th June.
NLC had earlier said as part of its diversification programme to sustain and improve the growth rate, NLC was in the process of setting up a wind based power project in Tirunelveli district of Tamil Nadu.
The tendering and evaluation of bids was in process for the said green power project, the company had said.
On Thursday, NLC ended 0.64% up at Rs103 on the Bombay Stock Exchange, while the benchmark Sensex gained 0.79% to 18,350.74.