Kotak Life Insurance appoints Subhasish Acharya as head of tied channel

Kotak Mahindra Old Mutual Life Insurance Ltd (Kotak Life Insurance) said it appointed Subhasish Acharya as its executive vice president and head of tied channel.

Mr Acharya will oversee all activities concerned with the channel, including strategy formulation, effective process and system implementation, service quality, throughput and customer satisfaction, it said in a release.  

In his immediate prior assignment, he worked with Kotak Mahindra Bank. Earlier he held positions of significant responsibility in ICICI Bank and Kotak Mahindra Bank before moving to Kotak Life Insurance.

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American Tower unit buys Essar Telecom Infrastructure in all cash deal

India's Essar group said US-based American Tower Corp (ATC) unit Transcend Infrastructure Ltd (TIL) completed a share purchase transaction to acquire Essar Telecom Infrastructure Pvt Ltd. (ETIPL) in an all cash deal.

The transaction values ETIPL at about Rs2,100 crore and is subject to certain post closing adjustments, the Essar group said in a release.

The transaction represents the third tower acquisition in India by a member of the American Tower group since initiating operations in India in the fourth quarter of 2008, the release added.

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ICSA Q1 net profit declines to Rs27.9 crore

ICSA (India) Ltd, the embedded technology based products developer, said its net profit declined to Rs27.9 crore for the 30 June 2010 quarter as against Rs34 crore in the same quarter a year ago.

During the June 2010 quarter, the company's total revenues increased to Rs307.2 crore from Rs305.7 crore in June 2009 quarter, ICSA said in a regulatory filing.

On Friday, ICSA shares ended 0.8% down at Rs132 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.2% lower at 18,143 points.

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