Sistema Shyam TeleServices Ltd (SSTL) has appointed Shankar Bali as the chief operating officer (COO) of Delhi NCR & Haryana circle. Reporting directly to Vsevolod Rozanov, President and CEO of the company, Mr Bali will be responsible for further stimulating the business growth for the company in the region.
He would handle business development, daily operations, planning and execution of efficient marketing strategies, infrastructure management, capacity enhancement and governance. Mr Bali brings with him a rich experience of over 21 years including more than 17 years in the telecom sector. During his last assignment at Hutch, as the chief executive officer for Sri Lanka, he spearheaded the entire mobility initiatives of the company in the country.
M Ramsekhar to lead CRISIL Risk and Infrastructure Solutions
CRISIL said it has appointed M Ramsekhar as the chief executive officer (CEO) of its subsidiary CRISIL Risk and Infrastructure Solutions Ltd (CRIS). CRIS provides infrastructure advisory services and risk solutions. CRIS has successfully executed assignments in 31 countries in Asia, South America, the Middle East and Africa, in the areas of infrastructure policy, regulation, reforms, PPP, and private investment, and in risk consulting. Its sectors of expertise include energy, fuels, water, urban infrastructure, transport, health, and education. CRIS also provides comprehensive risk management services to banks, financial institutions, and corporates.
Mr Ramsekhar joins CRISIL from GVK Power and Infrastructure Ltd, where he was chief strategy officer. Prior to this, he had a 20-year career in the Indian Administrative Service.
The local market is likely to open in the positive terrain, tracking the global equities markets. The US markets closed in the green overnight on better-than-expected earning forecasts and on signs of easing of the European debt crisis. In line with the US, markets in Asia were also upbeat in early trade on Wednesday. The SGX Nifty was unchanged at 5,808, its previous closing mark.
The key indices were sluggish in opening trade yesterday, on mixed global cues, fluctuating within positive territory. There was pressure on IT, realty and technology stocks. The choppiness continued in the post-noon session and the indices remained range-bound. However, the trend was reversed in the closing session and the market closed flat.
We had mentioned in Monday’s market report that for a day or two we may see a small rally. The Sensex opened with an upward gap of 55 points to hit 19,280 and after a volatile morning made an intra-day high of 19,431.56. This is the lowest intraday high since 29 November 2010. For a major part of the trading session, the Sensex traded just above the previous close of 19,224.21. However, massive selling in the closing session saw the Sensex crash to an intra-day low (19,003). Then a ferocious rally helped it recover as much as 350 points. The Sensex closed at 19,196.34, down 27.78 points, based on adjusted closing figures, and the Nifty fell 8.75 points to close at 5,754.10.
Wall Street ended in the positive zone on better-than-expected earnings forecasts and signs of easing of the debt crisis in Europe. The S&P 500 was near its highest level since September 2008 after Sears Holdings forecast profit that will exceed analysts’ expectations and Lennar Corporation, the Miami-based homebuilder, reported results that topped estimates.
The European Central Bank bought euro-area government bonds for the second day Also, Japanese finance minister Yoshihiko Noda said Tokyo may buy more than 20% of the securities issued by the European Financial Stability Facility in its initial round. The announcement follows reports that China is ready to buy 4 billion euros to 5 billion euros of Portuguese debt.
Sentiments were boosted after government data showed inventories at US wholesalers unexpectedly declined in November by the most in almost a year.
The Dow rose 34.43 points (0.30%) to 11,671.88. The S&P 500 added 4.73 points (0.37%) to 1,274.48 and the gained 9.03 points (0.33%) to 2,716.83.
Markets in Asia were higher in early trade on Wednesday tracking positive sentiments as the US markets closed in the green on Tuesday and signs of easing of the debt situation in Europe. The gains were also supported by a rise in crude and metal prices.
The Shanghai Composite was up 0.40%, the Hang Seng gained 0.83%, the Jakarta Composite jumped 1.22%, the KLSE Composite added 0.03%, the Nikkei 225 rose 0.50%, the Straits Times was up 0.08%, the Seoul Composite advanced 0.12% and the Taiwan Weighted was up 0.41% in early trade. The SGX Nifty was unchanged at 5,808, its previous closing mark.
Ahead of the budget 2011-12, finance minister Pranab Mukherjee on Tuesday said the government is conscious of concerns regarding infrastructure development and investment in research and development (R&D).
“The government is conscious of two major concerns relating to the pace of development of infrastructure and investments in R&D,” Mr Mukherjee said while addressing India Inc during the pre-budget deliberation.
Both these issues have a direct bearing on the productivity of Indian enterprise, he said, adding investment in the infrastructure sector is also a key to sustainable and inclusive growth.